APEC cites role of Customs, Internet in world economy

BEIJING — As they work to harmonize free trade agreements among countries, Asia-Pacific Economic Cooperation member-economies have cited the need for more efficient customs operations to improve cross-border movement of goods.

At the same time, new drivers for growth are being discussed, including Internet economy for small and medium enterprises.

President Aquino, who arrived here yesterday to attend the APEC leaders’ summit and related meeting, will focus discussions on disaster resilience, SMEs, financial inclusion and domestic governance.

Aquino is accompanied here by Foreign Affairs Secretary Albert Del Rosario, Trade and Industry Secretary Gregory Domingo, Finance Secretary Cesar Purisima, Socio-Economic Planning Secretary Arsenio Balisacan, Presidential Management Staff Chief Julia Andrea Abad, Presidential Protocol Chief Celia Anna Feria, Presidential Spokesman Edwin Lacierda and Social Secretary Susan Arnaiz.

A joint statement released by the APEC minister cited the unique role of customs in facilitating trade.

“We also reaffirm our commitment to further simplify and harmonize customs procedures in line with relevant international standards, including those developed by the World Customs Organization (WCO). We encourage full implementation of the WTO Trade Facilitation Agreement by customs administrations in APEC economies,” the statement read.

The TFA contains provisions for expediting the movement, release and clearance of goods, including goods in transit. It also sets out measures for effective cooperation between customs and other appropriate authorities on trade facilitation and customs compliance issues. It further contains provisions for technical assistance and capacity building in this area.

The APEC ministers welcomed the progress in formulating the Guidelines for APEC Customs Transit to enhance harmonization among APEC customs administrations and expect effective implementation.

They also noted that customs initiative could be geared to suppress illegal transactions through cross-border e-commerce and support the collaboration with the business to better manage the potential risk at border and facilitate legitimate trade.

At the same time, the APEC ministers who met here on Nov. 7 to 8 recognized the Internet economy as an effective driver of economic reform, innovation and sustainable growth.