China signs AEO customs agreements with Burundi, Iceland

Guests attend the opening ceremony of the 6th World Customs Organization (WCO) Global Authorized Economic Operator (AEO) Conference in Shenzhen, south China's Guangdong Province, May 8, 2024. (Xinhua/Liang Xu)

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.