HONGKONG: The Hong Kong Customs has said that the Korea Mutual Recognition Arrangement (MRA) on the Authorised Economic Operators will become functional from Friday.
Moreover, the Hong Kong Customs (China) and Mainland Customs (South Korea) will start road cargo service under MRA from September 1.
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Sources said that the Customs and Excise Department has signed the MRA with China and Korea Customs Services in October 2013 and February 2014, respectively to enhance the mutual trade and cooperation.
The facilitation measures will be provided under the MRAs to enable local companies to tap the Mainland and Korean markets, fetching more business opportunities to the import/export and logistics industries, thereby sustaining Hong Kong’s long term economic development.
