A STUDY ON TRADE RISK MITIGATION IN CUSTOM CLEARANCE OPERATIONS

Effective and safe customs clearance procedures are essential to promoting global trade. However, streamlined clearance procedures face major obstacles from the complex web of rules, a wide range of stakeholders, and shifting risk environments. By creating a thorough framework for trade risk reduction in customs clearance processes, this initiative seeks to solve these issues.
The suggested framework takes a multifaceted approach, fusing conventional risk management techniques with cutting-edge technology like blockchain, artificial intelligence, and data analytics. The system will evaluate past trade data, spot trends, and forecast possible dangers related to certain shipments or trade routes by utilizing machine learning algorithms. Blockchain technology will improve transaction integrity and traceability by ensuring visible and unchangeable documentation.