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Community Electronic Trading Service regulations approved
Three Import and Export (Amendment) Regulations have been approved by the Governor-in-Council to facilitate the implementation of a Community Electronic Trading Service (CETS) in Hong Kong.
The regulations are: the Import and Export (General) (Amendment) Regulation 1995, the Import and Export (Fees) (Amendment) (No. 2) Regulation 1995 and the Import and Export (Registration) (Amendment) Regulation.
A government spokesman said today (Thursday): "The Government agreed to the implementation of the CETS in 1992.
"The objective of the service is to adopt electronic data interchange (EDI) and other techniques to improve the facilitation of international trade for the Hong Kong trading community."
"Initially, the trading community will be able to apply for restrained textiles export licences and to lodge import and export declarations through the CETS," he said.
"The approval of the three amendment regulations completes the legislative amendments needed to make it possible for EDI to be also used in addition to current paper-based methods.
"Two ordinances, namely the Import and Export (Amendment) Ordinance 1995 and the Industrial Training (Clothing Industry) (Amendment) (No. 2) Ordinance 1995, were passed by the Legislative Council in May this year for the same purpose.
A trial service will be launched in 1996. Pending the successful completion of this trial, the CETS will be opened up to the entire trading community later in the same year.
End/Thursday, November 23, 1995