The Philippines is one of the countries in the Association of Southeast Asian Nations that signed an agreement to facilitate trade customs clearance in the region, the Bureau of Customs (BOC) said Thursday.
The 10 ASEAN member states signed the Mutual Recognition Arrangement (MRA) of their respective Authorized Economic Operator (AEO) Programs on Sept. 19, 2023. The ASEAN AEO MRA (AAMRA) seeks to provide a predictable and transparent trading environment among ASEAN member states.
AAMRA provides assurance that the certification standards that the AMS customs administrations apply within their respective AEO programs are compatible and in accordance with the principles and standards of the World Customs Organization (WCO) SAFE Framework of Standards to Secure and Facilitate Global Trade (SAFE Framework).
“Certified AMS AEOs will enjoy faster cargo clearance and priority treatment for cargo inspection for their goods traded within ASEAN. These benefits are expected to increase savings arising from improved predictability of cargo movement,” the BOC said in a statement.