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Hong Kong And South Korea Sign Customs Agreement

by Mary Swire, Tax-News.com, Hong Kong

29 November 2007


Hong Kong Commissioner of Customs and Excise, Richard Yuen has signed a co-operation pact with Commissioner of Korea Customs Service, Seong Yun-kap at an annual meeting between the two administrations.

At the meeting, the two sides agreed to continue with the immediate notification mechanism for prompt intelligence exchange to combat transnational customs offences, including drug trafficking, cigarette smuggling and intellectual property rights infringements.

Yuen explained that the mechanism has proved to be effective and efficient in responding promptly to customs offences, and added that the countries had successfully intercepted two containers of illicit cigarettes worth US$2.4 million.

The two sides will also strengthen co-operation in intellectual property rights protection and expertise exchange, and will organise training and reciprocal visits.

Mr Seong is leading a six-member delegation attending the 27th Customs Co-operation Conference in Hong Kong.


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