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The Department of Finance said the full implementation of an international merchandise passport will boost the global visibility of Filipino products and expand market access for local businesses.
“With this system, we now offer them cost-effective access to international trade exhibitions that would have otherwise been prohibitive for them to attend in the past,” DOF Revenue Operations Group Undersecretary Charlito Martin Mendoza said. Almost every industry with temporary importation can benefit from the use of ATA Carnets such as commercial samples, professional equipment, and goods for display at exhibitions, fairs and meetings, Mendoza said.
Apart from reducing the costs of exporting goods, the ATA Carnet promotes trade efficiency as it simplifies customs procedures through a single document for all customs transactions, and makes arrangements for entry to many countries in advance at a predetermined cost.
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