The Contracting Parties to the “International Convention on the Harmonized Commodity Description and Coding System" have finalized the 7th edition of the Harmonized System nomenclature (HS 2022), the most widespread system of classification of goods applied by trading nations and used for their international trade negotiations.

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According to the WTO World Trade Report 2018, the world is entering a new era where a series of innovations that leverage the Internet can have a major impact on trade costs and international trade. Innovation will reshape trade patterns offering vast opportunities for developing and developed countries. In particular, Internet of Things (IoT), Artificial Intelligence (AI), blockchain, biometrics (to name a few), have the potential to profoundly transform not only the procedures and patterns for exchanging goods and services globally, but also the way Customs works and interacts with other border agencies. Although the benefits of such technologies for Customs (and in general, for border management) have not yet been fully explored, they are already being exploited by a growing number of Customs for improving and streamline their work processes (this is the case for instance of blockchain and AI).

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