FINANCE Secretary Ralph G. Recto said the Philippines is preparing a Customs cooperation agreement with Hong Kong (HK), focused on information-sharing to deter smuggling and the transport of illicit goods.
“I thank the government of Hong Kong for collaborating with us on this very important matter. This arrangement is necessary to ensure that both our Customs Administrations are functioning together in the most efficient way possible,” Mr. Recto said in a statement on Wednesday.
“We owe it to our nations to ensure that what crosses our borders is legitimate, safe, and lawful,” he added.
The draft bilateral arrangement emerged from discussions between the BoC (Bureau of Customs) and its Hong Kong counterparts in response to growing global concern over supply chain security and more sophisticated cross-border smuggling operations.
“The draft arrangement is intended solely for the mutual administrative assistance between the Customs Administrations of the Philippines and Hong Kong,” the Department of Finance said.
Among the salient provisions on general assistance includes the sharing of information and intelligence to ensure the proper application of Customs laws, the prevention, investigation and combating of Customs offenses, and the security of international supply chains. — Aubrey Rose A. Inosante
