TradeLane

AEO is a well-known regime in many countries, and not something new. But this program is continuously evolving to attract more potential participators.

The evolution is not only in regards to the benefits you can enjoy in South Korea, but also occurs in terms of the procedural aspects of obtaining and maintaining AEO accreditation and Mutual Recognition Agreements/Arrangements(MRAs).

AEO stands for Authorized Economic Operator, which is the collective name of high-credit enterprises certified by Customs around the world. You, as an importer and/or exporter, can also be an AEO participant in the international circulation of goods. In China, the official name of AEO is Advanced Certified Enterprise.

2023 was a good year for trade in Vietnam. According to the General Statistics Office of Vietnam, the import and export goods turnover in Vietnam reached 683 billion USD, with a trade surplus of 26 billion USD, more than double that in 2022.

Like classification and country of origin, Customs Valuation is a crucial element of trade compliance. Valuation has always been a key focus of Customs administrations, as it will primarily affect the import customs duty and import VAT of imported goods, VAT refund of exported goods, and other important statistical considerations.

Medical items being exported from the US to Russia, Belarus, and occupied regions of Ukraine may require an export license. The sanctions set forth under Sections 746.5, 746.6, 746.8, and 746.10 of the Export Administration Regulations (15 CFR Parts 730-774, “EAR”) are designed to include the prohibition of medical item exports that support military involvement in the ongoing conflict in Ukraine. There is a policy of denial for The Ministries of Defense of both the Russian Federation and Belarus. However, license applications for health and safety, medical, and humanitarian items destined for civilian facilities are reviewed and may be approved on a case-by-case basis.