Which of the following statements is are correct regarding World Customs Organisation WCO 1 It is an...........

International Affairs International Institutions

Which of the following statements is/are correct regarding World Customs Organisation (WCO)?

1. It is an independent intergovernmental body whose mission is to enhance the effectiveness and efficiency of Customs administrations.

2. WCO is the only international organization with competence in Customs matters

3. WCO has also been responsible for administering the World Trade Organization’s Agreements on Customs Valuation.

Choose the correct answer using the code below-

1 and 2 only

1 and 3 only

1 only

1, 2 and 3

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Explanation:

The World Customs Organization (WCO), established in 1952 as the Customs Co-operation Council (CCC) is an independent intergovernmental body whose mission is to enhance the effectiveness and efficiency of Customs administrations.

As the global centre of Customs expertise, the WCO is the only international organization with competence in Customs matters and can rightly call itself the voice of the international Customs community.

WCO has also been responsible for administering the World Trade Organization’s Agreements on Customs Valuation, which provide a system for placing values on imported goods, and the Rules of Origin, which are used to determine the origin of a given commodity.