A customs agreement aimed at strengthening cooperation and trade between Algeria and South Korea was signed on May 8, 2013 in Algiers.
The agreement, inked by Mohamed Abdou Bouderbala, Director General of Customs, and his South Korean counterpart Baek Un-Chan, establishes a legal framework aimed to enhance bilateral trade and customs cooperation. The cooperation agreement will also provide for the exchange of experiences and best practices in customs clearance operations, computerization, risk management, and training of executives.
The technical assistance which will be provided by the South Korean Customs Service, considered to be among the best performing worldwide with annual operations worth $1,000 billion, will focus on the reorganization of the National Centre of Data Processing and Statistics (CNIS).Baek Un-Chan is on a two-day official visit to Algiers, accompanied by several South-Korean high customs officials among whom Lee Myung-Ku, Director General of the Information Management and International Cooperation Bureau.
‘We are hopeful that this agreement would result in the contribution of the South Korean Customs Service to the modernization of the CNIS. Their custom service has a proven experience in the field of computing and information’, the Director General of Algerian Customs pointed out.
It is worth stressing that the Directorate General of Customs has launched a modernization of the CNIS. The Centre will be provided with a new information system, the SIGAD 2, allowing for a centralized real-time management of customs clearance operations carried out on the country’s territory.
The two country’s customs services have agreed to mutually recognize their Authorized Economic Operator programs to facilitate exchange between Algerian and South-Korean exporters and importers. According to Director General Bouderbala, the agreement was extended to cover many new issues such as combating money laundering and organized crime in general.
For his part, Baek Un-Chan, Commissioner of the South Korean Customs Service, underlined that the agreement would help enhance trading relations with Algeria and provide the country with technical assistance in the field.
In 2012, bilateral trade exceeded $1.6 billion, including $357 Million of Algerian exports to South Korea and $1.26 billion of imports from this emerging country, which became the world’s seventh largest economy, according to CNIS.
The 2012 balance of trade was in a deficit of $902 Million for Algeria. Trade balance remained negative in the first quarter of 2013, as Algerian exports to South Korea amounted to $120 Million, while imports reached $365 Million.
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