The Customs and Border Protection Office (CBP) reported on Monday (08.08.2022) that the customs authorities of the United States and Korea, Chris Magnus and Yoon Tae Sik respectively, held a meeting in Washington DC in the framework of the commemoration of 10th anniversary of the entry into force of the Free Trade Agreement between both nations.
Customs authorities discussed cooperation issues to expand bilateral trade, ensure trade facilitation and supply chain security, and block dangerous goods at the border.
CBP said they also discussed and agreed on ways to improve performance and utilization of the U.S.-Korea Free Trade Agreement, risk management, maritime cargo information sharing, and Container Security Initiative (CSI).
The Container Security Initiative is a program operated by CBP in cooperation with customs authorities around the world to inspect scheduled container cargo shipments prior to arrival in the United States. The program has been operational since 2003 and has made great progress. As a result, the two customs authorities agreed to expand it.
In addition, the discussion was made significant expansion of trading volumes between the two countries over the past decade due to the Free Trade Agreement between the United States and Korea, and it was agreed, in principle, to seek a trade agreement Data exchange for cargo risk management across both bordersIn this regard, CBP stressed: “A communication channel will be established between the two customs services to quickly share and resolve difficulties related to import and export problems, and concerns raised by private companies in both countries.” (CBP Press Release)
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