Benefits of Singapore’s Networked Trade Platform (NTP)
Make your exports more price competitive and speed up trade finance applications with the NTP
Electronic Data Exchange with China through the Networked Trade Platform
If you are trading with China, are you leveraging the China Singapore Free Trade Agreement (CSFTA) to make your exports more price competitive? Did you know that the Preferential Certificate of Origin (PCO) and Certificate of Non-Manipulation (CNM) can now be electronically transmitted to the General Administration of Customs of the People’s Republic of China (GACC) through NTP?
Besides enjoying preferential tariff rates for your exports to China, you can also improve your business process efficiency and enjoy cost savings with the electronic data exchange service with China. To find out how your business can enjoy this benefit, read more here.
Trade Finance Compliance Service on the Networked Trade Platform
The Trade Finance Compliance (TFC) Service allows businesses to speed up trade finance applications by giving consent to Singapore Customs to share their permit data with financial institutions of their choice through the NTP. Businesses retain full control of their permit data at all times as they can give and withdraw consent at any time. Find out more about TFC Service here.
This article was republished with permission from the Networked Trade Platform Office, Singapore Customs.