Toyota PH recognized by BOC as trusted trade partner

MANILA: Toyota Motor Philippines (TMP) recently received a Level 1 accreditation under the Bureau of Customs’ (BOC) Authorized Economic Operation (AEO) program.

The AEO program of the BOC was established in 2017 to help the Philippines commit further to international trade agreements and to similar programs of other countries, TMP explained in a release. 

As administered by the BOC, the AEO program shall facilitate and secure international trade and increase the level of customs compliance, the company added.

Under the program, TMP and other accredited companies are exempted from the annual renewal of customs accreditation and self-assessment of duty and tax liabilities.

The BOC will assess and accept TMP’s goods declaration and trade documents. A help desk shall also be dedicated to assist TMP, as well as succeeding AEO members, on customs-related concerns.

"Trade facilitation initiatives like the AEO Program complement the region’s efforts towards speedy (economic) recovery and are particularly beneficial to highly regionalized industries like automotive," TMP observed in a statement. 

TMP Vice President for Manufacturing Michael Angelo and Vice President for Import-Export and Parts Management Imelda Cruz-Sincioco received the accreditation certificate from BOC. 

Photos from Toyota Motor Philippines

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