Taiwan and Canada have signed a mutual recognition arrangement on authorized economic operators (AEOs) to facilitate bilateral trade, according to the Customs Administration.
The AEO arrangement was inked between Representative to Canada Harry Tseng (曾厚仁) and Canadian Trade Office in Taipei Executive Director Jim Nickel during the Canada-Taiwan Economic Consultations in Taipei on Thursday, the agency said in a statement.
An AEO is defined by the World Customs Organization (WCO) as parties involved in the international movement of goods which have been approved by a national customs administration as complying with WCO or equivalent supply chain security standards.
Photo: Screen grab from the Customs Administration’s Web site
The pact represents a new milestone in the cooperation between the customs authorities of both countries, the agency said.
Taiwan is Canada’s sixth-largest trading partner in Asia, with bilateral annual trade value averaging more than US$5 billion in the past three years, it added.
Through this arrangement, Taiwanese and Canadian exporters that have AEO status would have access to facilitated customs clearances at their respective borders, thereby bringing substantial economic benefits to both countries, the agency said.
The nation began implementing the AEO program in December 2009 and 952 AEOs had been certified as of Nov. 30, which is comprised of 421 safety and security AEOs, and 531 general AEOs, it said, adding that the import and export values account for about 50 percent of Taiwan’s total trade value.
Taiwan has reached similar arrangements with the US, Singapore, Israel, South Korea, Australia, Japan, India, New Zealand and Guatemala.
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