New Initiatives in ASEAN to Facilitate Intra-ASEAN Trade
ASEAN launched the Mid-Term Review Report of the ASEAN Economic Community Blueprint 2025 on 28 April 2021. The Mid-Term Review Report shows considerable progress that ASEAN has made in strengthening regional economic integration, such as through the implementation of initiatives that bring practical benefits to people and businesses. These include examples such as the ASEAN Customs Transit System (ACTS), ASEAN Single Window (ASW), ASEAN-wide Self-Certification Scheme, and the ASEAN Trade in Services Agreement.
In collaboration with Singapore Business Federation, SLA organized a 2-part webinar series, the first on 30 April 2021, to provide clarity on the above initiatives to help our members gain clarity on the application procedures and operational requirements of the recent schemes that will facilitate the movement of goods. In a nutshell, ACTS aims to help a truck travel from its point of loading (Departure) to its destination in a different country with fewer obstacles and delays. This could be a potential game changer for logistics operators because there is no need for a different Customs declaration at each border, and no need to transfer the goods to a different truck in each country.
The second session of this series on 07 May 2021 included a refresher on ASEAN-Wide Self Certification (AWSC), Back-to-Back Provisions, and Customs Procedures and Trade Facilitation measures that logistics providers can utilize to help shippers save on import tariffs on selected goods.
More than 100 company representatives attended the webinar and engaged the speakers from Singapore Customs and Land Transport Authority in a wide range of questions spanning across multiple-journey guarantees, digital Form Ds via the ASW and registration of vehicles under ASEAN Good Vehicle Cross Border Permit (AGVCBP).
Interested members who have missed the event can get in touch with the SLA team to watch the replay of the webinar.