Regional Customs program to save millions for Asean exporters
A new self-certification pilot scheme will save exporters millions of dollars and time on paperwork when it is fully implemented in 2012. The scheme, a cooperation between Customs in Singapore, Malaysia and Brunei, means exporters who satisfy the criteria for locally-produced goods can self-declare their origin and receive a preferential tariff rate when exporting within the Asean region. At present, Singaporean companies must apply for certification every time they make a shipment, costing S$15 (US$11.60) each.
Singapore’s trade with other Asean countries was worth around US$89.65 billion in 2009. Customs says 850 exporters will each save up to S$1.08 million a year under the program, and benefit from increased speed and efficiency.
source & article: Straits Times
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