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China and Australia Signed AEO Mutual Recognition Agreement
Updated:2017-12-07 15:16:00

It is learned from Ningbo Customs that China and Australia have recently signed the AEO mutual recognition agreement to further improve the security and convenience of the Sino-Australian trade. Thus the AEO enterprises in Ningbo will enjoy more customs clearance convenience and preferential policies in their import and export business to Australia.
AEO refers to the "authorized economic operator" by the World Customs Organization. So far, China has achieved AEO mutual recognition with 35 countries or regions in the world, including Singapore, South Korea, Switzerland, New Zealand and Israel. According to the latest statistics, Ningbo has now 97 AEO enterprises, and 2846 general certification enterprises.
Statistics also show that when the AEO enterprises export their products to the related countries or regions with mutual recognition, the inspection rate can be reduced to 60^ to 80%, and the customs clearance time and cost will reduce by over 50%.
Australia is a major trade partner of Ningbo. According to Ningbo Customs, in the first ten months this year, Ningbo's import and export volume to Australia stood at 27.76 billion yuan, up by 39.6% over the same period of last year, including an export volume of 11.67 billion yuan, up by 14.9%, and an import volume of 16.09 billion yuan, up by 65.3%. The major imported products from Australia include minerals, coal and food, while the major exported products from Ningbo to Australia are mechanical and electrical products, furniture and textiles.


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