The Hong Kong-Singapore Mutual Recognition Arrangement on the Authorised Economic Operators will become operational from Monday.
Its implementation marks 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.
Under the arrangement signed last June, both customs agencies recognise the compatibility of the supply chain security measures implemented by companies certified under Hong Kong's Authorised Economic Operator Programme and Singapore's Secure Trade Partnership Programme.
Both agencies will provide clearance facilitation to each other's Authorised Economic Operators, such as reduced examination or prioritised clearance.
It is the third arrangement fully implemented by the Customs & Excise Department, following deals with Korea in August and the Mainland in September last year.
The measures will help local companies strengthen their trade competitiveness and marketability in overseas markets, as well as bring in more business opportunities to the import-export and logistics industries.
