BOC, DTI ink MOA to enhance trade of strategic goods

BOC, DTI ink MOA to enhance trade of strategic goods

By Kiara Lauren Ibanez/Benjamin Cuaresma

MANILA — In a bid to increase the overall business efficiency in the country, the Bureau of Customs (BOC) has expressed support and cooperation to the programs and initiatives of the Department of Trade and Industry (DTI).

And with it, the BOC on Tuesday signed a Memorandum of Agreement with the Strategic Trade Management Office (STMO), Authority of the Freeport of Area Bataan (AFAB), Clark Development Corporation (CDC), Philippine Economic Zone Authority (PEZA) and Subic Bay Metropolitan Authority (SBMA).

Said partnership aims to establish an effective coordination and cooperation mechanism towards enhanced trade facilitation, optimize information sharing, boost the capability of front liners to identify strategic goods, and reduce the complexity of doing business of legitimate and compliant strategic goods exporters.

This effort, headed by the DTI, is in consonance with Republic Act No. 10697 otherwise known as the “Strategic Trade Management Act” (STMA), authorizing the establishment of STMO to serve as the executive and technical agency of the national government for the establishment of the management systems for the trade in strategic goods.

As part of the agreement, a Technical Working Group on Strategic Trade Facilitation (TWG-STF) was created comprising of the contracting parties for the purpose of establishing communication mechanisms and procedures, organize and implement Commodity Identification Training (CIT) for Frontline and Enforcement Officers and streamline documentary requirements with BOC and IPAs.

Commissioner Rey Leonardo Guerrero said that the BOC shall continue to strengthen its collaboration with trade regulatory agencies to include DTI, to boost trade and ensure an environment of growth for both government and stakeholders. (AI/FC/MTVN)

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