Tue, Oct 04, 2011 - Page 11 News List

CMT plan would save government, firms millions: MOF

By Amy Su  /  Staff Reporter

The Ministry of Finance (MOF) yesterday said the “Customs-Maritime-Trade [CMT] Single Window Plan,” which is expected to be launched in the middle of 2013, would save the government and local firms NT$1.58 billion (US$51.66 million) a year.

“The plan would offer safer and more convenient services for local companies,” Deputy Minister of Finance Hwang Ding-fang (黃定方) told a media briefing.

APEC yesterday held a symposium for the CMT Single Window Plan in Taipei to push for international customs cooperation, with Taiwan and Japan as the plan’s co-leaders.

Taiwan has been preparing for the launch of the plan since 2009, the ministry said in a statement.

The plan would not only simplify the currently complicated customs declaration procedure for companies, but would also build a platform for countries to share and integrate exports and imports data quickly and conveniently, Hwang said.

“The plan would help the government and local firms save costs of about NT$1.58 billion per year,” he said.

Once the plan is launched, it is expected to save firms NT$850 million a year, while saving the government NT$720 million a year.

In addition, the ministry expects to expand the customs mutual assistance agreement with more APEC members following the symposium.

Currently, Taiwan has signed a customs mutual assistance agreement with several countries including the US, the Philippines, Israel, India and Vietnam, the ministry said.

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