Objective of the AEO Program
Apart from revenue collection, Trade Security and Trade Facilitation are important areas for customs agencies around the world. In order to secure and facilitate the trade, the World Customs Organisation (WCO) has adopted the SAFE framework of standards in 2005, which includes the Authorized Economic Operator Program (AEO Program) as one of three key pillars. India, as a member of the WCO, has adopted the AEO Program through the Customs Act, 1962.
At the end of May, the US Department of State and the White House announced that the US would begin the process of revoking Hong Kong’s preferential treatment as a separate customs territory from Mainland China.
Topics: Asia, North America
On February 12th, 2020, The European Union (EU) moved forward with a partial withdrawal of preferential tariff treatment from Cambodia due to human rights abuses.
The EU-Singapore Free Trade Agreement went into effect on November 21st, 2019. This is the European Union's first bilateral trade agreement with a Southeast Asian country. This agreement removes tariffs in trade between the EU and Singapore.
Topics: Europe, Asia, Free Trade Agreements
According to Announcement of GACC [2019] No.127, to promote trade facilitation, China Customs decided to implement a “two-step declaration” pilot program in some Customs houses under Manzhouli Customs, Hangzhou Customs, Ningbo Customs, Qingdao Customs, Shenzhen Customs, and Huangpu Customs since Aug. 24th.
Topics: Asia
