China News Agency, Beijing, January 5 (Reporter Li Xiaoyu) According to the news from the General Administration of Customs of China on the 5th, the customs of China and the Philippines have signed an "Authorized Economic Operator" (AEO) mutual recognition arrangement, and China Customs has become the first Philippine Customs. AEO mutual recognition partners.
The AEO system is advocated by the World Customs Organization. The customs will certify and approve enterprises with a high degree of law-abiding, credit status and safety, and provide preferential customs clearance services to certified enterprises.
On January 4, witnessed by the leaders of the two countries, the customs of China and the Philippines signed the AEO mutual recognition arrangement.
According to the General Administration of Customs, after the signing of the AEO mutual recognition arrangement between China and the Philippines, the export goods of AEO enterprises in China and the Philippines will enjoy a lower inspection rate, priority inspection, designated customs liaison service, priority customs clearance after the interruption and recovery of international trade, etc. With the four facilitation measures, the time for customs clearance of goods is expected to be significantly shortened, and the cost of ports, insurance, and logistics will also be reduced accordingly.
The economic and trade exchanges between China and the Philippines are close.
The Philippines is a country jointly building the "Belt and Road" and a member of the Regional Comprehensive Economic Partnership (RCEP). It is an important trading partner of China in ASEAN.
According to Chinese statistics, the total value of imports and exports between China and the Philippines in the first 11 months of 2022 was 534.09 billion yuan, a year-on-year increase of 11.2%, higher than the overall growth rate of China's imports and exports during the same period.
According to official data, as of now, China has signed AEO mutual recognition agreements with 23 economies including Singapore, the European Union, and South Africa, covering 49 countries (regions). The number of agreements signed and the number of mutual recognition countries (regions) both rank first in the world.
The General Administration of Customs stated that in the next step, it will continue to focus on the countries (regions) that jointly build the "Belt and Road", continue to expand the scope of AEO mutual recognition, and improve the level of foreign trade facilitation.
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