China signs AEO mutual recognition deals with Burundi, Iceland to boost trade

China has signed Authorized Economic Operator (AEO) mutual recognition agreements with Burundi and Iceland in Shenzhen city, South China's Guangdong Province, on Thursday to boost trade with the two countries.

The General Administration of Customs of China (GAC) has respectively signed arrangements for mutual recognition of AEO with Burundi and Iceland at the ongoing sixth World Customs Organization (WCO) Global AEO Conference in Shenzhen that kicked off on Wednesday, the state broadcaster CCTV reported.

Afterward, AEO-certified companies from both countries will enjoy lower inspection rates, priority inspections, designated customs liaison officer services, and other favorable arrangements.

China's AEO mutual recognition pact with Burundi is the third in Africa after Uganda and South Africa, bringing the total of BRI partner countries with signed AEO agreements to 36.

The AEO mutual recognition pact between China and Iceland also marks a significant advancement in customs collaboration between the two countries. With China standing as Iceland's largest trading partner in Asia, the deal will greatly bolster bilateral trade security, according to GAC.

As of Thursday, the GAC has signed AEO mutual recognition agreements with 28 economies, covering 54 countries and regions.

Since the implementation of the AEO system from 2008, China has kept on promoting international mutual recognition of AEO, aimed at reducing clearance costs for enterprises and expediting bilateral commerce.

According to GAC, in April, China's imports and exports reached 3.64 trillion yuan ($566.9 billion), an increase of 8 percent year on year. The exports stood at 2.08 trillion yuan with a year-on-year growth of 5.1 percent, and imports surged 12.2 percent year-on-year to reach 1.56 trillion yuan.

AEO mutual recognition allows customs to recognize certified AEO enterprises for streamlined customs clearance, aiming to enhance cooperation between customs, businesses, and other government departments, with AEO certification acting as a global trade "green pass".