Shenzhen [China], May 24: The 6th World Customs Organization (WCO) Global Authorized Economic Operator (AEO) Conference was held in Shenzhen, south China's Guangdong province from 8th to 10th May. It marked the first time for China to host the event.
According to a report from People's Daily Online, the conference, organised by the World Customs Organization (WCO) and jointly hosted by the General Administration of Customs (GAC) of China and the municipal government of Shenzhen, revolved around the theme "leveraging the potential of Authorized Economic Operator (AEO) programs for fostering inclusive and sustainable global trade."
More than 1,200 delegates from customs, international organisations, AEO enterprises, governments agencies, academic institutions, and industry associations from over 100 countries and regions gathered at the event, with an aim to advance AEO mutual recognition and promote trade growth.
So far, China has signed AEO mutual recognition agreements with 28 economies including Singapore, the European Union and South Korea, which cover 54 countries and regions. Both numbers rank first globally.
The AEO programme is a core system of the WCO Framework of Standards to Secure and Facilitate Global Trade, under which customs authorities certify companies based on the latter's credit status, compliance records and security standards.
As of the end of April this year, China was home to 5,882 AEO enterprises, whose foreign trade volume accounted for 36.3 percent of the national total.
Source: Emirates News Agency