DUBAI, UAE, June 26, 2023 /PRNewswire/ -- Webb Fontaine, one of the leading providers of AI-powered trade technology and Customs facilitation solutions to governments and trade administrations around the world, is pleased to announce that its Single Window and Risk Management solution has been selected by the Bangladesh National Board of Revenue to enhance trade facilitation processes.
The contract, spanning three years, encompasses the implementation, maintenance, and support of the project. Webb Fontaine's expertise in trade facilitation, combined with its cutting-edge technology solutions, will play a pivotal role in streamlining trade operations in Bangladesh.
This project stands as one of Asia's largest World Bank-funded Single Window initiatives, encompassing more than 25 government agencies and stakeholders. Notable participants include the Customs authority, various ministries, seaports, inland container depots, airports, land ports, the central bank, and commercial banks. The integrated system will interface with 18 government ICT systems, catering to an estimated 700 thousand users who process approximately 8 million transactions annually.
The implementation of the Bangladesh Single Window (BSW) aims to achieve the primary business objective of facilitating trade by assisting traders in the submission, tracking, processing, receipt, and electronic payment of all regulatory authorizations. Certificates, licenses, permits, and arrival/departure reports will be seamlessly processed through the BSW platform, fostering efficiency, transparency, and improved ease of doing business.
The Automated Risk Management System will be a comprehensive centralized and integrated solution covering all aspects of risk management for the use by Customs and regulatory authorities. The system will be compliant with the guidelines of the World Customs Organization and will result in faster and more transparent trade procedures while providing a consistent implementation of Bangladesh customs laws.
Alioune Ciss, CEO of Webb Fontaine, expressed his excitement regarding the collaboration, stating, "We are honoured to partner with the Bangladesh National Board of Revenue for this transformative initiative. Webb Fontaine's innovative Single Window and Risk Management solutions are tailor-made to address the unique challenges faced by Bangladesh's trade ecosystem. By simplifying and accelerating trade processes, we will contribute to the country's economic growth and create a favourable business environment for local and international traders."
Webb Fontaine looks forward to commencing the implementation of the Single Window and Risk Management solutions, working closely with the Bangladesh National Board of Revenue and other stakeholders to ensure a seamless transition towards a modern and digitized trade ecosystem.
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