China signs AEO customs agreements with Burundi, Iceland


SHENZHEN, May 9 (Xinhua) -- China signed customs agreements on mutual Authorized Economic Operator (AEO) status with the Republic of Burundi and Iceland at the ongoing 6th WCO Global AEO Conference in Shenzhen, south China's Guangdong Province, on Thursday.

Enterprises with AEO status can enjoy a series of preferential management measures, such as priority processing, reduced frequency of supervision and optimized services, which effectively reduce the cost of international trade and enhance the international competitiveness of enterprises.

The AEO system, initiated by the World Customs Organization (WCO), aims to facilitate customs clearance for enterprises through customs agencies' authentication of enterprises with high levels of legal compliance and safety, and a high credit status.

China has so far signed mutual AEO agreements with 28 economies, covering 54 countries and regions, ranking first in the world in terms of the number of agreements and the number of countries and regions with AEO mutual recognition.

The latest customs statistics show that, as of the end of April, there were more than 5,800 enterprises with AEO status in China, accounting for 36.3 percent of China's foreign trade value.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In World

US State Dept approves potential sale of F-16 spare parts to Taiwan, Pentagon says
Iceland set for change of government as surging prices dominate election
Senior Russian diplomat says possibility of new nuclear tests remains open question
Explosion damages canal feeding Kosovo's main power plants
Canada PM Trudeau to meet with Trump Friday in Florida, Globe and Mail says
BiH launches digital loan application process
North Korea leader Kim: Russia has right to exercise self defence against Ukraine
Canadian gov't to sign first modern treaty with M�tis
France on the back foot in Africa after Chadian snub
U.S. stocks close higher

Others Also Read