Taiwan to simplify customs procedures

Taiwan to simplify customs procedures

Dow Jones, Taipei

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 percent of
Taiwan's exports went to China, the ministry said. That is higher
than 20.6 percent taken up by the U.S.