The European Chamber of Commerce of the Philippines (ECCP) has welcomed a new customs policy extending importer accreditation to three years, saying the move could ease business costs and improve the country’s investment appeal.

The Bureau of Customs’ new policy, issued through a Customs Administrative Order, also includes lower accreditation fees for importers.

ECCP said the longer validity period reduces the frequency of renewals, cutting compliance costs and administrative workload for companies engaged in trade. Such changes allow importers to focus more on operations and expansion rather than regulatory processes, it added.

The policy “helps reduce administrative barriers, allowing our local industries to focus on economic productivity,” while also making the trade environment more efficient and predictable — factors seen as critical by foreign investors, according to a statement from the chamber.

The ECCP commended Finance Secretary Frederick D. Go and customs authorities for pushing reforms aimed at improving transparency and competitiveness in the country’s trade system.