PH joins ‘Convention on Temporary Admission’

January 23, 2022 Cristina Lee-Pisco 336 views

Philippine Ambassador to Belgium, Luxembourg, and the European Union Eduardo José A. de Vega has deposited the Philippines’ Instrument of Accession to the Convention on Temporary Admission (Istanbul Convention) at the headquarters of the World Customs Organization (WCO) in Brussels, Belgium.

The Convention is a customs procedure wherein goods may be brought into the territory of a Party to the Convention for a specific purpose with total or partial relief from import duties and taxes where the goods are intended for re-exportation within a specified period and have not undergone any change.

The Philippines is set to become the 73rd contracting party to the convention.

WCO Secretary General Kunio Mikuriya accepted the document on behalf of the WCO and expressed his best wishes for the Philippines.

The ceremony was preceded by a meeting between de Vega and Mikuriya, where they discussed how easier customs facilitation benefits not just the Philippines but also its economic partners such as ASEAN.

Philippine businesses attending trade fairs and exhibitions in territories that are Parties to the Convention are among those that are expected to benefit from the Convention when it takes effect for the Philippines on April 17, 2022.