Japan and South Korea signed an agreement Monday authorizing mutual assistance between their customs authorities, the Finance Ministry said.

The pact, signed in Seoul and immediately put into effect, is aimed at facilitating crackdowns on illegal drug trafficking, arms smuggling and counterfeit goods, such as brand-name handbags and popular electrical and sporting goods, the ministry said.

Under the accord, the two countries will strive to simplify and harmonize their customs procedures, in addition to exchanging information on investigations, the ministry said.

South Korea is the fifth country with which Japan has formed such an accord.