Manila: The Department of Finance (DOF) announced a forthcoming customs cooperative arrangement between the Philippines and Hong Kong Special Administrative Region. This initiative aims to bolster trade facilitation while safeguarding consumers from the threats posed by smuggled and illicit goods.

According to Philippines News Agency, the draft bilateral arrangement has emerged from comprehensive discussions between the Bureau of Customs (BOC) and its Hong Kong counterparts. These discussions were driven by increasing global concerns over supply chain security and the advancing complexity of cross-border smuggling activities.

The draft arrangement is designed exclusively for mutual administrative assistance between the Customs Administrations of the Philippines and Hong Kong. Key provisions include the exchange of information and intelligence to ensure proper enforcement of Customs laws, prevention and investigation of Customs offenses, and securing the international trade supply chain.

Finance Secretary Ralph Recto expressed gratitude to the Hong Kong government for their collaboration on this critical issue. "This arrangement is necessary to ensure that both our Customs administrations are functioning together in the most efficient way possible," he stated. "We owe it to our nations to ensure that what crosses our borders is legitimate, safe, and lawful."