Finance Secretary Ralph G. Recto has instructed the Bureau of Customs (BOC) to expedite the completion of the agreement, citing the need to streamline legitimate trade and improve enforcement efforts against customs violations.
“I thank the government of Hong Kong for collaborating with us on this very important matter,” Recto said. “This arrangement is necessary to ensure that both our customs administrations are functioning together in the most efficient way possible. We owe it to our nations to ensure that what crosses our borders is legitimate, safe, and lawful.”
The draft pact is the result of extensive talks between the BOC and its Hong Kong counterpart amid rising global concern over supply chain security and increasingly sophisticated smuggling operations.
The proposed arrangement focuses on administrative cooperation, including the sharing of information, joint investigations, and mutual support in ensuring the lawful application of customs laws and safeguarding international trade routes. —Ed: Corrie S. Narisma
