The Hong Kong-Singapore Mutual Recognition Arrangement (MRA) on the Authorized Economic Operators (AEOs) will become operational with effect from Monday (March 9), signifying a milestone in the co-operation between Hong Kong and Singapore Customs in promoting international supply chain security and facilitating secure and efficient global trade.
The MRA was signed by the Customs and Excise Department (C&ED) and the Singapore Customs at the World Customs Organization Council Sessions in June 2014 in Brussels. Under the MRA, both administrations recognise the compatibility of the supply chain security measures implemented by companies certified under Hong Kong's Authorized Economic Operator Programme and Singapore's Secure Trade Partnership Programme, and provide clearance facilitation to the AEOs of the other side, such as reduced examination or prioritised clearance.
To enjoy the MRA benefits, the Hong Kong AEO, or its agent, should provide its 15-digit Hong Kong AEO code to the Singapore importer for making import declaration to the Singapore Customs so as to enjoy appropriate clearance facilitation in Singapore.
Alternatively, the Hong Kong importer should accurately provide the name and address of the Singapore AEO exporter in its submission of electronic advance cargo information to the C&ED so that the imported shipments can be identified for the MRA benefits.
This is the third MRA that the C&ED has put into full implementation following those with the Korean and Mainland Customs in August and September last year respectively. The facilitation measures under the Hong Kong-Singapore AEO MRA not only help local companies strengthen their trade competitiveness and marketability in overseas markets but also bring more business opportunities to the import/export and logistics industries, thereby sustaining Hong Kong's long-term economic development.
Ends/Friday, March 6, 2015