Customs service to work with IDB on systems establishment in Latin America

Finance

Published: 11 Apr. 2024, 18:57

Customs service to work with IDB on systems establishment in Latin America

This photo, provided by the Korea Customs Service (KCS), shows KCS Commissioner Ko Kwang-hyo, left, and Inter-American Development Bank's Vice President for Sectors and Knowledge Ana Maria Ibanez posing for a photo after signing a memorandum of understanding on customs affairs cooperation in Washington on April 9, 2024. [YONHAP]

Korea's customs agency said Thursday it has agreed to enhance cooperation with the Inter-American Development Bank (IDB) on extending support for education and systems establishment on customs affairs in Latin American nations.

The two agencies signed a memorandum of understanding (MOU) on digital-based education and training programs regarding customs administration in Central and South American countries and the establishment of electric customs clearance systems, according to the Korea Customs Service (KCS).

The signing ceremony took place in Washington on Tuesday, attended by KCS Commissioner Ko Kwang-hyo and IDB Vice President for Sectors and Knowledge Ana Maria Ibanez.

The two sides first signed an MOU for cooperation on those issues in 2018, and the latest one calls for stronger cooperation on various new projects and to assess the economic effects of those projects, it added.

During his visit to Washington, Ko also held a meeting with Pete Flores, acting deputy commissioner of U.S. Customs and Border Protection. They discussed ways of working closely to crack down on drug trafficking and other harmful products.

Also on the table was the United States' Uyghur Forced Labor Prevention Act amid concerns of its negative impact on Korean exporters, the agency said.

Yonhap