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Philippine Standard Time:
18 April 2024, 02:03 AM

PH, CHINA INK AGREEMENT ON AUTHORIZED ECONOMIC OPERATOR PROGRAM

January 7, 2023

The Mutual Recognition Arrangement (MRA) between the Bureau of Customs and the General Administration of Customs of the People’s Republic of China on the Authorized Economic Operator Program (AEO) was signed during the state visit of President Ferdinand Marcos Jr. to China on January 3-5, 2023.

Customs Commissioner Yogi Filemon Ruiz and Chinese Minister of Customs Yu Jianhua signed the agreement in the presence of President Ferdinand R. Marcos Jr for the Republic of the Philippines and President Xi Jinping in behalf of Peoples Republic of China.

The AEO Program is a partnership pursued globally by customs administrations to secure and facilitate trade by providing incentives to traders working jointly with customs administrations to improve supply chain security.

MRAs serve as a platform for AEO programs to provide additional benefits to their members through international recognition with partner countries.

Generally, MRA benefits include a higher level of facilitation during cargo clearance, domestic and overseas; priority treatment if the cargo has been selected for inspection; and expedited customs cargo clearance in the event of trade disruption.

AEO companies would thus enjoy cost savings due to better predictability of cargo movement.

Under the MRA, Level 2 Certified AEO members accredited by the BOC exporting to China will be afforded trade facilitation benefits.

Similarly, exporters to the Philippines accredited as Advanced Certified Enterprises under the measures of the Enterprise Credit Management Programme of the GACC will be afforded trade facilitation benefits by the BOC.

The parties will develop an implementation plan for the recognition, trade facilitation benefits, and exchange of information before its implementation six months from the signing.

Following the directives of President Ferdinand Marcos Jr., the BOC remains steadfast in its mission to enhance trade facilitation, strengthen collaboration with development partners, and advance its position internationally. #

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