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Hong Kong, Mainland Cooperate Over FTA Transhipments

by Mary Swire, Tax-News.com, Hong Kong

31 May 2016


On May 24, Hong Kong's Commissioner of Customs and Excise, Roy Tang, and the Chinese Minister of Customs Administration, Yu Guangzhou, signed a Co-operation Arrangement on the origin of transhipment cargo in Hong Kong under the Mainland's free trade agreements (FTAs).

Intended to strengthen Hong Kong's role as an international trade and logistics hub, as well as to encourage traders to choose Hong Kong as a transhipment location for their goods, the Co-operation Arrangement will further enable Mainland-bound consignments passing through Hong Kong to enjoy Mainland tariff reductions.

The Co-operation Arrangement covers goods traded between the Mainland and its trading partners, including the 10 member states of the Association of Southeast Asian Nations (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam), Australia, Bangladesh, Chile, Costa Rica, Iceland, India, New Zealand, Pakistan, Peru, South Korea, Sri Lanka, Switzerland, and Taiwan.

Hong Kong Customs rolled out an FTA Transhipment Facilitation Scheme on December 20, 2015, to provide a supervision service and issue certificates of non-manipulation.

TAGS: tax | free trade agreement (FTA) | commerce | tariffs | China | agreements | Cambodia | Hong Kong | import duty | trade

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