Trade activities between ASEAN and the Republic of Korea (RoK) will be promoted as the two sides have signed an agreement fostering their customs cooperation, announced the Korea Customs Service (KCS) on May 22.
The agreement was reached at the 11 th annual meeting of customs chiefs of ASEAN and KCS held in Brunei on May 21.
The two sides committed to joining hands in implementing the agreement on trade facilitation inked at the World Trade Organisation (WTO) in November, 2014. They also pledged to prioritise customs clearance for enterprises with transparent customs profile.
KCS will provide support for ASEAN members in customs staff training.
ASEAN is the second largest importer of RoK products, following China. In the first four months of this year, the RoK raked in only 38.55 million USD from selling commodities to the ASEAN market.-VNA
