New streamlined transshipment process to enhance cross-border trade between Singapore and Malaysia starting January 2025.
Singapore Customs, in collaboration with the Ministry of Trade and Industry and the Ministry of Finance, has announced a significant update aimed at simplifying cross-border trade. From January 1, 2025, traders will only need to apply for a single transhipment permit for land intermodal transshipment. This initiative is part of ongoing efforts to address regulatory challenges and improve the efficiency of goods movement.
The streamlined process is expected to result in considerable cost savings and time efficiencies for businesses engaged in cross-border trade. The measure aligns with the broader goals of the Johor-Singapore Special Economic Zone (JS-SEZ), reinforcing economic cooperation and facilitating smoother trade between Singapore and Johor.
By reducing administrative burdens, this policy aims to attract more traders and bolster the economic integration of both regions. The initiative reflects the commitment of both nations to enhance bilateral trade relations and create a more seamless logistics environment.
Source: MTI
