Provides for an environment that will allow parties involved in trade and transport to lodge standardized information in a secure, electronic single entry point to fulfill all import, export and transit related regulatory requirement in respect of each transaction; Establishes NSW System which shall be a computerized internet-based system that shall incorporate and interconnect government agencies involved in the processing and of import and export shipments; Provides that NSW System shall be concerned with the application and processing of permits, licenses and clearances for import and export, and link the final results electronically to the Customs system for the validation and verification']