Certification Country of Origin (COO)

Newsletter_202106(Singapore)
2021-08-25
Marine Sector Incentive (MSI)
2021-09-29
Newsletter_202106(Singapore)
2021-08-25
Marine Sector Incentive (MSI)
2021-09-29

Certification Country of Origin (COO)


COO is a certificate that is issued by a competent authority of the exporting country that certifies the origin of the goods. There are 2 types of certificates the Preferential Certificate of Origin (PCO) and Ordinary Certificate of Origin (OCO). In Singapore, to qualify for PCO, 40% has to be local content while to qualify for OCO, it has to be at least 25%.

Some of the key requirements to apply for COO certification in Singapore are:

  • Complete access to materials such as cultivation, farming, and use of recycled materials, etc.
  • Local content of finished goods is at least 25%, according to the price at which the finished goods are made in Singapore
  • Change in tariff classification at the 6-digit level
  • Chemical reactions

 

Free Trade Agreement (FTA)

Beyond physical connectivity, Singapore has formalized bilateral agreements with multiple countries in terms of Free Trade Agreements (FTA). Singapore has signed 14 single trading country FTAs and 11 regional FTAs with key economic markets and blocs such as the European Union – Singapore FTA, United States – Singapore FTA, ASEAN FTA, Gulf Cooperation Council – Singapore FTA and the recently completed Regional Comprehensive Economic Partnership (RCEP). Singapore is the only country in ASEAN with an FTA agreement with United States.

 

Benefits of Singapore FTA and COO

Companies which are able to fulfil the requirement to obtain a Singapore COO will be able to leverage on the various FTAs that Singapore has signed with to reduce the export tariffs. In addition, companies may tap on the regional FTAs to strengthen their supply chain and expand their market outreach.

Services provided by FOZL in regard to Certification Country of Origin (COO)

 

Market Feasibility Study

  • To allow client to understand the Country of Origin (COO) process in Singapore
  • To study the viability of the HS code product to achieve Singapore COO status
  • Analysis of FTAs to selected HS code product
  • Manufacturing Cost Statement (MCS) Budgeting
  • Good Services Tax (GST) implications

 

COO Application process

  • To support client in preparation of relevant documents and submission.
  • To support client in MCS calculations.
  • To support client in COO submission
  • To support client in on-site visit by Customs.