China, Serbia Sign AEO Mutual Recognition Agreement

As announced by China’s General Administration of Customs, the China-Serbia Authorised Economic Operator (AEO) mutual recognition agreement signed recently will provide convenience for customs clearance enterprises that have passed the certification. Goods of enterprises with AEO status can enjoy customs clearance facilitation in both countries. This will effectively reduce the costs of these enterprises in terms of port, insurance and logistics charges, and enhance their international competitiveness.

According to the agreement, the facilitation measures include:

• Lower document review rates;

• Lower inspection rates of imported goods; and

• Prioritised customs inspection for goods that require physical inspection.

Source: General Administration of Customs