Social-Economic cabinet approved a New foreign trade information system

The social-economic cabinet approved last week recommendation submitted by Minister of Finance Netanyahu for the setting up of a new foreign trade information system to streamline and simplify import/export and customs clearing work procedures.
 
The new system will improve Israel's foreign trade infrastructure and will provide an advantage to Israel's trading communities in the global competitive economy. According to the ministry, the system will simplify import and export procedures and will provide a far better control over the flow of goods in and out.
 
The new system is scheduled to begin operating during the second half of 2008. Israel Tax Authority was made responsible for the coordination with government ministries. The new foreign trade information system is due to provide the following services:
 
Receive import / export electronic applications for approval from the authorized authorities; Application processing will be the responsibility of the authorized authorities; Send applications electronically to the relevant authority for handling; Provide a yes or no decision to the applicant and to the customs, signed electronically; Provide electronic links to the customs clearing system for rapid work procedures and enforcement.