Chongqing - A four-party conference focusing on China-Singapore inter-customs cooperation took place in Southwest China's Chongqing on May 18. Representatives from the Customs Districts of Tianjin, Nanjing, Chongqing, and Singapore Customs were present.
Emphasizing major initiatives such as the Belt and Road Initiative and sustainable development, China and Singapore's customs authorities have enhanced economic and trade collaboration between the two countries, according to Sun Yuning, the Deputy Director of the General Administration of Customs China (GACC).
In recent years, the customs authorities of both nations have pushed for practical cooperation, achieving a series of commendable results.
For instance, Tianjin Customs District and Singapore Customs have piloted new clearance models, aiming to foster a secure and convenient trade environment between the two nations.
Nanjing Customs District has engaged in dialogues with Singapore Customs regarding customs supervision and functional development within free trade zones.
Chongqing Customs District has shared risk information with Singapore Customs, promoting the mutual recognition of Authorized Economic Operators (AEOs) to facilitate sharing of technical regulations and standards.
Mutual recognition of AEOs constitutes a critical element of the World Customs Organization (WCO) SAFE Framework of Standards, which aims to secure and expedite global trade by strengthening supply chain security from end to end, offering numerous advantages for traders.
Furthermore, the four parties engaged in discussions on smart customs, which is seen as a new approach to customs governance that benefits economic and trade cooperation between China and Singapore.
The participants agreed that a comprehensive, secure, efficient, open, and integrated intelligent customs supervision system can be established by applying digital, informational, and innovative technologies.
This will aid in modernizing institutional customs systems, regulatory models, technology, and equipment. It will also foster cooperation between the customs authorities of both countries, setting a leading international example of cross-border cooperation.
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