Singapore issues new rules in goods origin declaration
The Vietnam Trade Office in Singapore urged all Vietnamese firms trading with Singapore to seriously comply with its legal regulations, particularly customs requirements.
Singapore (VNA) 🦩– Singaporean authorities have issued a notice to traders and declaring agents (DAs), stressing the need for accurate declarations of the Country/Territory of Origin in all import, export, and transshipment permit applications processed through the island state’s TradeNet system.
The Vietnam Trade Office in Singapore reported that the Singapore Customs released a circular on June 9, clarifying that “Singapore” may only be listed as the Country/Territory of Origin if the goods meet the origin criteria outlined in relevant Free Trade Agreements (FTAs) involving Singapore or comply with the city-state’s non-preferential rules of origin. Goods subjected to minimal processing in Singapore do not qualify as locally originating.
To benefit from preferential tariffs when exported to FTA partner countries or regions, goods must fully adhere to the specific origin criteria detailed in the applicable and active FTAs, the circular noted.
The office urged all Vietnamese firms trading with Singapore to seriously comply with its legal regulations, particularly customs requirements./.
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