“The signing of this LOI signifies the first step towards trade data connectivity between the two Customs administrations, and reinforces our commitment to maintain the security of international supply chains, while facilitating legitimate trade,” says Lim.
The exchange of trade data would facilitate customs declarations by the business community and allow both customs administrations to better conduct advance risk assessment, says the statement.
“We value the opportunity for transparency and cooperation that a shared Single Window will bring,” adds Smith. “Government-to-government data sharing is rapidly becoming an important component of efficient and secure trade, and CBP looks forward to working with Singapore Customs on this forward thinking approach to trade facilitation.”
Under the initiative, both customs administrations will begin to explore the interoperability of their national single window systems through data mapping and sharing of technical competencies.
A pilot trial may be carried out between both countries with the results being used to refine the system linkage.
Singapore Customs says it is also working on bilateral Single Window connectivity initiatives with its counterparts in Australia, China, Indonesia and the Netherlands.
