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Faster customs services for traders in China and NZ
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TRADERS in China and New Zealand will enjoy faster customs clearance services starting next month as a mutual recognition agreement takes effect, the General Administration of Customs said today.
Holders of the highest level certificate in both countries' Authorized Economic Operator (AEO) program will enjoy expedited clearance through less document checks and physical examination, priority given to the inspection of cargo subject to physical examination, designated customs officials in charge of communication, and expedited clearance in case of disruption to international trade, according to the agreement.
Time needed for clearance is expected to be cut by 50 percent for qualified traders and the chance for cargo physical examination will drop between 50 to 80 percent, customs officials said.
In the first five months, China's trading volume with New Zealand rose 26 percent year on year to 40 billion yuan (US$5.83 billion), the customs' data showed.
China now has AOE mutual recognition agreements with Singapore, South Korea, the European Union, and Switzerland.
The agreement with Switzerland is expected to take effect in September or October this year, the customs said.
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