CIU Academician Assist. Prof. Dr. Rüstemoğlu made a statement within the scope of International Customs Day
“Customs plays an important role in guiding trade”
Cyprus International University (CIU) Faculty of Economics and Administrative Sciences academic staff Assist. Prof. Dr. Hasan Rüstemoğlu, speaking within the scope of International Customs Day, advised that the concept of customs emerged as an understanding of fiscal tax and that following the industrial revolution, the customs regime gained variety.
Within his statement, Assist. Prof. Dr. Rüstemoğlu also expressed that within the process, customs has become a tool that plays an important role in the guiding of trade, while enabling national economies to gain more from international markets and encouraging the national industry.
Noting that the date that the World Customs Organization held their first meeting on the 26th January 1953, with the participation of 17 countries, is celebrated as International Customs Day, Rüstemoğlu went on to say, “The World Customs Organization, which was established with 17 member countries, today has reached 183 members, and these countries hold approximately 98 percent of the world trade within their hands”.
Explaining that the World Customs Organization member countries also cooperate in the struggle against smuggling, Assist. Prof. Dr. Rüstemoğlu continued, “Within this context, the relevant units of the countries carry out operations each year. When it comes to especially cigarettes, medication and drugs, coordination has been achieved among the member countries”.
Rüstemoğlu noted that within the context of the Turkish Republic of Northern Cyprus, the subject of customs duties is an important topic of discussion, and stated that the lack of political recognition, as well as the very little direct trade with countries other than Turkey, reflect negatively upon the country.
Pointing to the fact that high customs duties cause an increase in prices, in particular the prices of imported goods, Rüstemoğlu concluded, “Due to many products costing more to obtain, the sales costs are also increasing. Thus, the increase in the general level of prices leads to inflation”.