To improve trade and economic zone efficiency, PEZA and BoC signed a data-sharing agreement.
The Philippine Economic Zone Authority, or PEZA, and the Bureau of Customs, or BoC, announced on Wednesday that their historic collaboration had been formalized.
This monumental partnership culminated in the ceremonial signing of the Data Sharing Agreement for access to the Electronic Tracking of Containerized Cargo System.
The effectiveness and security of trade and economic zone operations in the Philippines are expected to be revolutionised by this historic agreement.
Revolutionary power
Under their leadership, Director General Tereso O. Panga and Commissioner Bienvenido Y. Rubio has recognized the revolutionary power of efficient data sharing and collaboration.
This ground-breaking collaboration has been made possible by their unwavering dedication to modernizing customs and economic zone operations.
In order to protect the interests of the country, the BOC, which is tasked with overseeing the handling, possession, and delivery of products at all ports of entry, plays a crucial role.
Real-time tracking of inland movements of containerized products has been made possible by the E-TRACC System, which was adopted by Customs Memorandum Order 04-2020.
Meanwhile, PEZA, operating under Republic Act 7916 (as amended by Republic Act 8748), looks after regulating, overseeing, and facilitating business operations within economic zones.
Both agencies’ contributions to the growth and prosperity of the country are obvious through the thriving economic activity within these zones.
Data sharing agreement
The Data Sharing Agreement formalizes the collaboration between these two vital agencies.
PEZA will gain access to BOC’s E-TRACC System data, enabling real-time monitoring of containerized goods and individuals within and outside economic zones.
This partnership promises to enhance efficiency, transparency, and security in cargo transportation to and from these zones. The key provisions of the agreement focus on data privacy, security, storage and retention of confidential information.
The BoC and PEZA highlight their commitment to maintaining data privacy regulations and protecting sensitive information. To make sure that sensitive information is only used for those purposes, strict controls will be put in place.
The Data-Sharing Agreement’s signature represents an agreement among the agencies to work together to promote innovation, effectiveness, and compliance in their own fields as well as wanting to work together to improve trade and the economic climate in the Philippines.