BEIJING,: The agreement on mutual Authorized Economic Operator (AEO) status signed between China and Belarus went into effect Wednesday, offering easier customs clearance for exporters from both countries, according to the General Administration of Customs (GAC).
Under the agreement, companies that obtain the AEO status in the two countries will enjoy simplified customs procedures, including reduced examination and prioritized clearance, when they export products to the other country.
GAC data showed that in the first half of the year, trade volume between the two countries totaled 1.3 billion U.S. dollars, up 69.8 percent year on year.
During the period, a total of 5,258 Chinese companies exported to Belarus, of which 141 were granted AEO status. These accredited firms account for 9.2 percent of China’s total exports to Belarus.
The AEO system, initiated by the World Customs Organization, aims at facilitating customs clearance for enterprises through the authentication by customs of enterprises with a high level of law compliance, credit status and safety.
China has signed mutual AEO agreements with 41 countries and regions including Singapore, the Republic of Korea, the European Union, Switzerland and New Zealand.