DJ Taiwan Aims To Simplify Customs Procedures With SE Asia

DJ Taiwan Aims To Simplify Customs Procedures With SE Asia

TAIPEI (Dow Jones)--Taiwan aims to simplify customs clearance procedures with more Southeast Asian nations, the island's Ministry of Economic Affairs said Tuesday. Taiwan has signed temporary clearance agreements with Singapore and the Philippines, and aims to forge similar agreements with Malaysia, Thailand, Indonesia and Vietnam. Temporary clearance permits, valid for a year, are designed to simplify the export/import clearance process. They can be used for personal luggage clearance and unaccompanied luggage like general cargo, according to the Taipei Customs Bureau. The ministry is planning a trip to several Southeast Asian countries soon, it said in a statement, but didn't specify the countries. Economic Minister Lin Yi-fu will lead the delegation, which will also include other government officials and Taiwanese businessmen. The trip is aimed at getting a clearer picture of Taiwan's investments in Southeast Asia, and to help Taiwanese investors there solve their problems, the ministry said. Taiwan's government is encouraging investments to Southeast Asia in an effort to prevent Taiwanese investors from becoming overly reliant on China, which has surpassed the U.S. to become the island's biggest export destination. In the first five months of this year, 23.5% of Taiwan's exports went to China, the ministry said. That is higher than 20.6% taken up by the U.S.

-By Perris Lee, Dow Jones Newswires; 8862-2502-2557; perris.lee@dowjones.com

(END) Dow Jones Newswires 30-07-02 1122GMT

GetAPDJ 1.00 -- JUL 30, 2002 18:27:17