THE HAGUE, Nov. 14 (Xinhua) -- The Netherlands is exploring a potential bid to host the European Union's (EU's) forthcoming customs agency, the Dutch Ministry of Finance announced on Thursday.

As discussions continue about the European customs agency, set to be established in 2026 and fully operational by 2028, the Dutch Ministry of Finance said it is assessing interest in hosting the new institution from regional and municipal authorities.

Once such interest has been confirmed, the Dutch government, in partnership with the selected municipalities, will submit a formal bid. The Dutch Cabinet will then decide on the country's candidacy.

"The customs agency would be a great fit for the Netherlands," said State Secretary for Finance Nora Achahbar. "Our main ports, like the Port of Rotterdam and Schiphol Airport, reinforce our status as a global trading hub."

"One-third of all goods entering the EU pass through the Netherlands, with our Customs Authority overseeing these flows," she noted. "This pivotal role in securing and collecting import duties for the EU makes it logical for us to consider hosting the new agency."

The agency will assist EU countries in assessing high-risk shipments, especially regarding drug trafficking and tax fraud, according to the European Commission.

The European Customs Union has been a cornerstone of the EU since 1968. It facilitates the free movement and trade of goods across member countries, thereby forming the world's largest single market. However, for the first time since its inception, EU customs regulations are undergoing a major reform, in order to handle the increasing demands on customs services.

The Netherlands alone processed over a billion customs declarations last year, more than four times the volume five years ago. This highlights the growing strain on customs operations.

EU member states are currently negotiating the updated customs rules, after which they will enter into discussions with the European Commission and European Parliament.

Meanwhile, the selection process to determine the host country for the new customs agency has begun. Enditem

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