Singapore Customs said Thursday that it would require all the exports to be declared before they leave the country starting from 2013.
Currently, only exports of controlled items or exports by land require advanced declarations. Declarations for exports of non- controlled items by sea and air are allowed to be made within three days of the goods leaving Singapore.
The new initiative, known as Advance Export Declaration, is aimed to strengthen Singapore's supply chain security and align its export declaration practices with international norms.
Singapore Customs said the new initiative is crucial to securing the supply chain as advance cargo information allows it to conduct timely risk assessment before high-risk consignments are exported.
In particular, it will help Singapore's collaboration on supply chain security with overseas authorities, including the implementation of mutual recognition arrangements to strengthen supply chain security.
Singapore is one of the world's busiest ports and is an important hub for transshipment. |