ASEAN sign agreement easing trade customs clearance

ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="The port of Manila, Bureau of Customs (BOC) at the Port of Manila, November 3, 2017. Jonathan Cellona, ABS-CBN News" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/business/10/14/20171103-manila-bureau-customs-9-jc.jpg"/><figcaption>The port of Manila, Bureau of Customs (BOC) at the Port of Manila, November 3, 2017. <em>Jonathan Cellona, ABS-CBN News</em></figcaption></figure></div><p>MANILA — The Association of Southeast Asian Nations (ASEAN) member states have signed an agreement to facilitate trade customs clearance, the Bureau of Customs (BOC) has said. </p><p>In a statement, the BOC said the customs agencies of the 10 ASEAN member states signed the Mutual Recognition Arrangement on Sept. 19. </p><p>A <a href="https://asean.org/asean-member-states-sign-arrangement-to-facilitate-trade-customs-clearance/">separate release</a> from the ASEAN showed that the deal sought to &quot;provide a predictable and transparent trading environment&quot; among the member states. </p><p>The agreement was also in line with the ASEAN Economic Community Blueprint 2025, the political and economic union said. </p><p>&quot;To achieve a highly integrated and cohesive ASEAN economy, the [Mutual Recognition Arrangement] could potentially enhance trade by reducing regulatory burden and facilitating the movement of goods within ASEAN,&quot; the statement read. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/10/04/23/customs-exceeds-september-collection-target">Customs exceeds September collection target</a></li></ul><p>The BOC, meanwhile, said the deal would make sure that certification standards that ASEAN members&#x27; customs administrations apply through their respective Authorized Economic Operator (AEO) programs were compatible and in accordance with the World Customs Organization&#x27;s (WCO) standards. </p><p>An AEO refers to an importer, exporter, customs broker, freight forwarder, or a transport provider accredited by BOC based on WCO and Revised Kyoto Convention guidelines. </p><p>BOC added that through the deal, ASEAN members&#x27; Authorized Economic Operator &quot;will enjoy faster cargo clearance and priority treatment for cargo inspection for their goods traded within ASEAN.&quot; </p><p>&quot;These benefits are expected to increase savings arising from improved predictability of cargo movement,&quot; it said. </p><p>Philippines, Brunei, Indonesia, Malaysia, Thailand, and Singapore will begin the 6-month pilot implementation of the agreement by year-end once the countries finalize their domestic procedures, BOC said. </p><p>The countries aim to rollout the agreement&#x27;s full implementation by the 3rd quarter of next year. </p><p>The other ASEAN member states will start their pilot implementation of the agreement by next year. </p><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/Nd-L5_cv9Yc?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

A separate release from the ASEAN showed that the Mutual Recognition Arrangement sought to 'provide a predictable and transparent trading environment' among the member states. 

ASEAN sign agreement easing trade customs clearance | ABS-CBN

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ASEAN sign agreement easing trade customs clearance

ASEAN sign agreement easing trade customs clearance

ABS-CBN News

Published Oct 14, 2023 04:09 PM PHT

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ASEAN

Bureau of Customs

Mutual Recognition Arrangement

Authorized Economic Operator

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