The Bureau of Customs (BOC) is targeting to deposit the country’s instrument of accession to the Revised Kyoto Convention (RKC) in time for the annual World Customs Organization (WCO) meeting in June.
Customs commissioner Napoleon Morales said efforts are now being made to ensure the country’s laws and policies comply with the RKC.
Two days before adjourning on February 3, the Senate gave its concurrence to the RKC, which has been pending with the plenary for almost two years.
“Finally, the Senate has concurred with the RKC and we are now just going through the usual documentary processes in time for our target submission this June during the WCO meeting,” Morales said.
Full implementation is expected 36 months after June.
Implementation of the revised instrument extends the existing simplification and harmonization of Customs procedures to encompass even more Customs operations and contributes favorably to global trade facilitation efforts.
Specifically, the accession means the adoption of harmonized customs procedures that lead to reduced time and cost, and increased transparency and predictability in Customs transactions. Discretionary treatment and application of rules are also eliminated and opportunities for extortion reduced.
