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The Mutual Recognition Arrangement (MRA) on AEO between Taiwan and Singapore has been in operation

According to Customs Administration of Ministry of Finance, the Mutual Recognition Arrangement between Taiwan Authorized Economic Operator (hereinafter referred to as AEO) Program and Singapore Secure Trade Partnership (hereinafter referred to as STP) Program has been put into operation since April 1, 2014, the commencement date from which traders are eligible to enjoy benefits provided by Taiwan Customs and Singapore Customs under this MRA. The implementation of this MRA will effectively enhance trade security and facilitation for both sides, and thus promote bilateral trade.

Customs Administration further pointed out that the said MRA was signed in July 2013. After completing a successful three-month Pilot test from November 2013 to February 2014, both Customs administrations decided to formally implement this MRA.

Customs Administration explained that, to receive MRA benefits from Singapore Customs, Taiwan AEOs need to log in the “AEO Certification and Management System” and confirm their intention to participate in this MRA. In addition, Taiwan AEOs should send their AEO codes to their importers/exporters in Singapore, and request those importers/exporters to declare the codes to Singapore Customs when the shipments of those AEOs are imported in or exported from Singapore.

Taiwan Customs has implemented its AEO program since the end of 2009, and there have been 276 Security and Safety AEOs. In view of the fact that Singapore is Taiwan’s fifth largest trading partner and Taiwan is Singapore’s ninth largest trading partner, and the trade volume between the two sides in 2013 amounted to US$28.1 billion, the operation of this MRA will lead to a win-win result for both countries’ economic development, added by Customs Administration.

Currently, Taiwan has signed MRAs on AEO with the United States, Singapore, and Israel. It is expected that more AEO MRAs will be signed between Taiwan and other countries in the near future, which can effectively bolster Taiwan’s competitive edge in the international economic and trade community.

News Contact: Mr. Tang Tel: 02-25505500#2538

  • Publish Date:2014-04-02
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