Singapore, May 22, 2023 — FedEx Express (FedEx), a subsidiary of FedEx Corp. (NYSE: FDX) and one of the world’s largest express transportation companies, was awarded the highest accolade of ‘Premium band’ in the Trade Facilitation and Integrated Risk-based System (TradeFIRST) by Singapore Customs.
With the Premium band status, FedEx will enjoy more streamlined processes for customs facilitation than shippers in lower bands for three years, through 2026. This includes waiver of security for most types of transactions, expedited clearance of shipments, reduced container sealing, and consolidated declaration.
With enhanced customs facilitation, FedEx customers can benefit from faster delivery times and lower transportation costs. The certification helps ensure the safety and security of the shipment, reducing the risk of loss or damage, and offering greater convenience and peace of mind to customers.
“This is a significant achievement for FedEx, and we are honored to be recognized for our commitment to integrity and compliance at the highest level,” said Eric Tan, Managing Director, FedEx Express Singapore. “This is a testament of our dedication to providing service excellence for our customers and making it easier for them to use FedEx, further facilitating even greater growth opportunities for businesses.”
TradeFIRST is an integrated assessment framework that evaluates companies and determines the level of facilitation accorded by Singapore Customs. The framework is based on three key principles that are aligned with Singapore Customs’ motto of making trade easy, fair, and secure, and the Premium band status is the highest level available in this programme. Under TradeFIRST, companies are rated holistically in five areas including company profile, inventory management and controls, compliance, procedures and processes, and security.