Customs arrangements with Singapore and Canada to benefit New Zealand traders
Minister of Customs Jenny Salesa has welcomed new customs arrangements between New Zealand, Singapore and Canada that will streamline trade and benefit traders.
The Mutual Recognition Arrangements (MRAs) to recognise supply chain security standards of respective trade programmes were signed at the World Customs Organization headquarters in Brussels today.
New Zealand exporters that are part of the New Zealand Customs’ Secure Exports Scheme will benefit from streamlined customs clearance processes and priority treatment at these borders.
“Both countries are important trading partners for New Zealand – Singapore is currently ranked sixth with two-way trade valued at an estimated NZD$5.2 billion, and Canada ranks fourteenth with an estimated NZD$2.1 billion of two-way trade per year,” says Jenny Salesa.
“These formal customs arrangements are great news as over half of our exporters that send goods to Canada and Singapore already belong to New Zealand Customs’ Secure Exports Scheme. I encourage those that aren’t members, to sign up.
“The MRAs take effect from 1 August 2019. Accredited exporters will be recognised as trusted traders, and can expect clearance at the Canada and Singapore borders to be more streamlined with less chance of inspection, giving them a competitive edge.
“Accredited exporters from the two countries will also receive similar treatment for their goods in New Zealand, which is good news for our importers. As a trading nation, the importance of customs agencies working together to promote and facilitate legitimate trade, cannot be underestimated.”
New Zealand has similar customs arrangements with the United States of America, Australia, China, Hong Kong, Japan, and the Republic of Korea.
In the 2018-2019 financial year to 31 May, New Zealand sent more than 8000 shipping containers to Singapore and over 5000 to Canada. Secure Exports Scheme members sent over 5000 and 2700 of these shipping containers respectively, and will qualify for more streamlined service once the MRAs take effect on 1 August 2019.
For more information about the New Zealand Secure Exports Scheme, visit: https://www.customs.govt.nz/business/export/secure-exports-scheme/