Honolulu, Hawaii, United States, 11 Nov 2011
Annex A - Pathfinder to enhance supply chain connectivity by establishing a baseline de minimis value
Providing a higher, commercially useful, baseline de minimis value is a significant and measurable contribution to APEC Leaders’ commitment to achieve “an APEC-wide target of a ten percent improvement in supply-chain performance by 2015, in terms of reducing the time, cost, and uncertainty of moving goods and services through the Asia-Pacific region, taking into consideration individual economy’s circumstances”. Recent studies have demonstrated that higher de minimis values provide considerable economic benefits to customs administrations, the private sector, and consumers through costs savings and reductions in trade transaction costs, in particular by facilitating the immediate release of shipments thereby improving the movement of goods through regional supply chains.
In 2011, the below economies agree to the following:
• Exempt express and postal shipments from customs duties or taxes and from certain entry documentation requirements for shipments valued at or less than $100 USD recognizing, however, that economies may choose not to apply such exemptions for restricted goods or from taxes that are also applied to domestic goods. Economies can also commit to implementing a de minimis value of $100 USD or higher by the end of 2012.
• Work towards broader application of de minimis treatment in the region.
A capacity building program will be developed to enhance the understanding of the economic and trade facilitative benefits of higher de minimis values, with the goal of assisting economies in joining the pathfinder.
List of Participating Economies in the Pathfinderi
Brunei Darussalam ($ 400 BND)
Hong Kong, China (no tariff on imports)
Korea (150,000 KRW)
Malaysia ($500 MYR)
New Zealand ($400 NZD)
Russian Federation (€200)
Singapore ($400 SGD)
Chinese Taipei ($3,000 TWD)
United States ($200 USD)
i. Eligibility is based on the exchange rate at the time an economy joins the pathfinder.