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Philippine Standard Time:
04 December 2023, 07:37 AM

BOC Joins Consultations with Asian Development Bank, Boosts BIMP-EAGA Economic Corridors

April 13, 2023

The Bureau of Customs – Collection District XII (Port of Parang) participated in the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) Economic Corridors Study conducted by the Asian Development Bank (ADB) and the Mindanao Development Authority (MinDA) to analyze and evaluate the economic advantages of Region XII and BARMM.

The event started with a consultation overview to set the context, objectives, process, and proposed topics of the Philippine stakeholders. Presentation on the existing BIMP-EAGA economic corridors’ current development strategies such as the West Borneo Economic Corridor (WBEC), Greater Sulu Sulawesi Economic Corridor (GSSC), and East Borneo Economic Corridor (EBEC) was also part of the dialogue.

The meeting was attended by various government agencies to gather significant insights and to guarantee that the ADB study results would be practical and beneficial in pursuing priority policies, programs, and projects that promote trade, investments, and tourism. The meeting convened last April 11, 2023, at the Seda Hotel in Davao City.

BOC Collection District XII will continue its trade facilitation efforts to encourage legitimate import-export activity and to attract investments which form part of Commissioner Bienvenido Rubio’s priority projects to spur the region’s economic growth.

In his statement, Commissioner Rubio said, “We recognize the importance of the BIMP-EAGA Economic Corridors Study in identifying opportunities and addressing challenges in cross-border trade, tourism, and investment.”

“The BOC fully supports this initiative and will work closely with the government agencies and stakeholders to implement practical and effective policies, programs, and projects that will promote economic growth and development in the region,” he added.#

Republic of the Philippines

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