Fabian Demicoli

Customs: EU and China sign landmark mutual recognition agreement

EU and Chinese
trusted traders will enjoy lower costs, simplified procedures and greater
predictability in their activities, thanks to a mutual recognition agreement
signed today. Under the agreement, the EU and China commit to recognising each
other's certified safe traders, thereby allowing these companies to benefit
from faster controls and reduced administration for customs clearance.

Mutual
recognition of trusted traders also allows customs to focus their resources on
real risk areas, thereby improving supply chain security on both sides. The EU
is the first trading partner to enter into such an agreement with China, having
already signed similar deals with the USA (2012) and Japan (2011). EU
Commissioner for Taxation and Customs, Algirdas Šemeta, was at the Joint
Customs Cooperation Committee (JCCC) meeting in Beijing, for the signing of the
agreement.

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