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Customs Procedures

As a complement to the removal of tariffs, the Customs Procedures Chapter aims to facilitate the flow of goods between the two Parties through the simplification of customs procedures. This ensures that traders will enjoy the full benefits that are accrued to tariff removal.

Under the Agreement, both Customs Administrations would promote paperless trading including the establishment of a single window, adopt risk management, issue advance rulings, and share best practices. Traders will benefit from faster turnaround time which would lower compliance costs for Customs regulatory requirements.

Both Parties have committed to establish mutual recognition of their Authorised Economic Operator programmes based on the World Customs Organization Framework of Standards, to secure and facilitate trade.

 

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(Last updated on 21 December 2018 17:34:14)