Finance Secretary Ralph G. Recto has directed the completion of a customs cooperative arrangement between the Philippines and Hong Kong aimed at strengthening trade facilitation while protecting consumers from the risks posed by smuggled and 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. We owe it to our nations to ensure that what crosses our borders is legitimate, safe, and lawful,” he said.

The draft bilateral arrangement was the product of extensive discussions between the Bureau of Customs (BOC) and its Hong Kong counterparts in response to heightened global concern over supply chain security and the growing sophistication of 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 salient provisions on general assistance that may be mutually provided by each Customs Administration to the other, include 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 the international trade supply chain.