Canada Border Services Agency has signed a mutual recognition arrangement with Hong Kong and New Zealand in order to streamline border processes.
The signings with Hong Kong Customs and Excise Department and the New Zealand Customs Service took place at World Customs Organization Council Sessions in Brussels, Belgium. The agreement is part of the Trusted Trader programs in Hong Kong and New Zealand.
“The CBSA is a fully engaged member of the World Customs Organization, regularly sharing best practices and lessons learned with our international partners, such as Hong Kong and New Zealand. Putting in place Mutual Recognition Arrangements with international partners is a reflection of the great cooperation between customs administrations and represents a major component of the CBSA’s International Strategic Framework to advance global border management,” said John Ossowski, president of Canada Border Services Agency.
Trusted Trader programs enhance the security and integrity of the global supply chain through the establishment of customs to business partnerships and by providing streamlined border processes to pre-approved, low-risk traders, according to the CBSA. MRAs not only enhance supply chain security, but strengthen Canada’s economic competitiveness by facilitating trade at the border.
According to the CBSA, each MRA signifies that the CBSA’s Partners in Protection program members will be recognized by, and receive trade facilitation benefits from, the Hong Kong Customs and Excise Department’s Authorized Economic Operator (AEO) program and the New Zealand Customs Service’s Secure Exports Scheme (SES) program, respectively. The CBSA will reciprocate by providing similar benefits to members of Hong Kong’s AEO program and New Zealand’s SES program.
In 2017, Hong Kong was Canada’s second most popular destination for investment in Asia, with direct investments worth $10.6 billion, and total investment from Hong Kong in Canada stood at $12.4 billion over the same period.
In 2017, bilateral merchandise trade with New Zealand totalled $1.2 billion. Canadian exports reached $494 million, while imports increased to $708 million.
In addition to these MRAs with Hong Kong and New Zealand, the CBSA has signed MRAs with the Customs Administrations of Australia, Israel, Japan, Mexico, Singapore, South Korea, and the United States.