Singaporean companies that have been certified by Singapore Customs can now enjoy faster customs clearance for goods they export to the USA.
This follows a mutual recognition agreement between Singapore Customs and the United States Customs and Border Protection (US CBP) on Dec 1 that companies will have their exports recognised to be of “lower risk”, expediting the customs clearance process.
Similarly, companies in the US which have been certified by the US CBP will experience faster clearance when their goods arrive in the Republic. “These companies can therefore better plan their cargo movements, particularly for time-sensitive exports, and enjoy savings in costs which would otherwise be incurred due to port delays,” Singapore Customs said in a news release.
The customs administrations also signed a US-Singapore Customs Mutual Assistance Agreement (CMAA) that will allow both countries to exchange information and render assistance to each other in the prevention and investigation of customs offences.
Singapore’ Director-General of Customs Ho Chee Pong said the CMA will boost cooperation between Singapore and the US in combatting cross-border customs fraud and smuggling. “Such cooperation will contribute to the integrity of the trading system, and enhances Singapore’s reputation as a trusted trade hub,” he added. – Channel News Asia