Faster Customs Clearance for Certified Singapore Firms Exporting Goods to China

By Tengku Noor Shamsiah Tengku Abdullah SINGAPORE, July 2 (Bernama) -- Singapore firms that have been certified by Singapore Customs can now enjoy faster customs clearance for the goods they export to China. Under an agreement signed between Singapore Customs and the General Administration of China Customs (GACC), the firms will have their exports recognised by the GACC to be of lower risk, leading to priority clearance when the goods arrive in China’s ports. In a statement, the Singapore Customs said these firms could therefore better plan their cargo movements and enjoy savings in costs which would otherwise be incurred due to port delays. Similarly, Chinese firms which had been certified by the GACC would have their exports cleared expeditiously when the goods arrive in Singapore, it said. This mutual recognition arrangement (MRA) to enhance supply chain security and facilitate trade between Singapore and China was signed at the 119th/120th World Customs Organisation Council Sessions in Brussels, Belgium, Sunday. Singapore’s Director-General of Customs, Fong Yong Kian, and the Vice Minister of the GACC, Sun Yibiao, signed the arrangement. This is China’s first MRA with another country. Singapore signed similar arrangements with Canada and South Korea in 2010, and with Japan in 2011. China was Singapore’s third largest trading partner in 2011, with a trade volume amounting to S$101.4 billion (US$79.9 billion). -- BERNAMA