EU and China sign 'safe trader' customs accord to speed clearance
EU and Chinese trusted traders will enjoy lower costs, simplified procedures now that a mutual recognition agreement has been signed, reports the British International Freight Association newsletter.
Under the agreement, the EU and China commit to recognising each other's certified safe traders, thereby allowing these companies to benefit from faster controls and reduced administration for customs clearance.
The BIFA report also said mutual recognition of trusted traders also allows customs to focus their resources on real risk areas, thereby improving supply chain security on both sides.
China has already signed similar deals with the US (2012) and Japan (2011).
Said EU Customs Commissioner Algirdas Semeta: "The EU and China are taking a big step forward in our trade relationship. By making customs procedures easier, cheaper and faster for our trusted operators, our citizens will benefit."
Key areas of focus in coming years will be trade facilitation, supply chain security and fighting counterfeit and illicit trade. An important new priority is a joint approach to tackling illegal waste shipments.
The second initiative signed in Beijing is a new EU-China Action Plan on Intellectual Property Rights (IPR). This aims to improve the clampdown on counterfeit goods.
The EU Authorised Economic Operator (AEO) status was launched in 2008, offering simplified customs procedures to companies that prove to be safe, reliable and compliant with security standards. Certified AEOs have fewer inspections on goods and speedier customs procedures and formalities.
