China Russia AEO mutual recognition arrangement signed

   Recently, China Russia AEO mutual recognition arrangement was signed. The import and export enterprises in Jiangsu, a major foreign trade province, welcomed the good customs clearance.

Recently, the customs of China and Russia signed the arrangement on mutual recognition of "certified operators" between the General Administration of Customs of the people's Republic of China and the Customs Administration of the Russian Federation.

The "certified operator" is the authorized economic operator, commonly referred to as AEO. AEO enterprises from China and countries (regions) with mutual recognition can directly enjoy the customs clearance facilitation measures implemented by the local customs, so as to reduce relevant trade costs.

According to the statistics of Nanjing Customs, in 2021, the total import and export volume of Jiangsu Province to Russia reached 70 billion yuan (RMB, the same below), a year-on-year increase of 33.9%; 129 AEO enterprises (advanced certification enterprises) carried out import and export trade with Russia, with a total import and export volume of 12.17 billion yuan, a year-on-year increase of 10.2%.

After the realization of AEO mutual recognition between Chinese and Russian customs, on the one hand, the goods directly imported and exported between AEO enterprises of the two countries will enjoy the convenience measures of giving priority to handling customs formalities, giving priority to inspection, and applying lower document review rate and inspection rate, so as to significantly reduce the storage, logistics and other trade costs of enterprises; On the other hand, thanks to the strict requirements of the AEO system on trade security, China Russia AEO mutual recognition will further promote the security and smoothness of the supply chain of the two countries, and create a safer and more convenient environment for the two countries to consolidate the foundation of energy cooperation and continuously expand the scale of trade and investment.