The Directorate General of Treasury and Public Accounting (DGTCP), in collaboration with the National Directorate of the BCEAO organized on Friday, September 13, 2019 at the Chamber of Commerce and Industry of Côte d'Ivoire, located in Abidjan-Plateau, the launch day of the second pilot phase of the module for monitoring the repatriation of export earnings via the Single Window for Foreign Trade (GUCE).
This meeting had the main objective of informing, training and raising awareness among exporters and banks on how to use the new application developed by the Single Window for Foreign Trade.
Representing the Director General of the Treasury and Public Accounting, ASSAHORE Konan Jacques, technical advisor KOUADIO Mathias said at the outset: "In Côte d'Ivoire, statistics have very often revealed a repatriation rate effective below regulatory requirements, the failure to sell currency being attributable to both economic operators and banks".
Aforth, Mr. SAVANE Mory, Director of Credit Institutions and External Finance stressed that revenues from Côte d'Ivoire's sales abroad are the main source of food for its foreign exchange reserves. Adding that "Côte d'Ivoire, which represents the locomotive of the WAEMU, could not afford to be at the bottom of the ranking in terms of compliance with the regulatory provisions relating to the repatriation of export earnings".
It is with this observation that the competent administrations have initiated several actions over the last two years whose implementation has made it possible to improve the effective repatriation rate of Côte d'Ivoire's export earnings. "This rate increased from 30% in 2017 to 61% at December 31, 2018, a remarkable quantitative good of more than 100% in just one year," revealed the representative of the Director General of the Public Treasury.
It is important to recall that on-the-spot and documentary inspection missions have made it possible to identify several difficulties which hinder the achievement of the regulatory rate for the domiciliation of export files and the repatriation of the proceeds of their revenues. These difficulties include information asymmetry between the actors, namely exporters, banks and supervisory authorities. This is likely to call into question the reliability of the statistics reported on Côte d'Ivoire's performance in terms of repatriation of export earnings.
It is therefore faced with this situation, that the National Monitoring Committee for the Repatriation of Export Earnings (CNSRRE) has undertaken since 2018 the dematerialization of the declaration procedure and the monitoring of the repatriation of export earnings.
In a practical way, it is a question of offering exporters and banks, the possibility through an interface on the platform of the Single Window for Foreign Trade (GUCE), to declare and monitor the collection and effective repatriation of export earnings from sales of goods abroad.