Businesses operating in the shipping industry should prepare themselves to become more modernised by embracing a Port Community System which will allow for greater efficiency in the import and export trade.

This is the message Frances Yeo, executive director for Port Computer Services Limited, had for members in the industry at the Customs Brokers and Freight Forwarders Association sponsored Shipping Association of Jamaica's (SAJ) Lunch and Learn seminar recently.

Yeo who was presenting on the topic, Information Communication Technology (ICT) for Improved Logistics, pointed out that a Port Community System is a central database where information comes together, thus allowing for collaboration and knowledge sharing systems as well as information and communication services.

Not only will a Port Community System allow for ease of doing cross border trade, but it will significantly cut costs, the length of time it takes for import and export as well as the number of documents needed for trade.

According to the 'Ease of Doing Business' survey 2007 by the World Bank and the International Finance Corporation (IFC), Jamaica currently uses six documents for export which takes a total of 21 days, compared to Panama which uses three documents and takes nine days.

Several benefits

Yeo pointed out that there are several benefits from having a Port Community System for both the government as well as traders.

Benefits for traders include faster customs clearance and release through predictable official intervention, reduced costs, less delays, enhanced competition and a simple commercial framework for doing both domestic and international trade.

Government benefits include increased effectiveness of control methods, more effective and efficient deployment of resources, correct revenue yields, improved trader compliance, accelerated economic development and encouragement of foreign investments.