The Bureau of Customs (BOC) signed a memorandum of agreement (MOA) 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) to increase the overall efficiency of the trade environment in the country.
In a statement, the BOC said it signed a cooperation agreement with the agencies on December 15. The agreement is in consonance with Republic Act No. 10697, which authorized 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.
“The 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,” the BOC said.