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After the mutual recognition of AEO between China and Thailand, the cost for customs clearance is expected to be reduced by about 30 percent, said an employee of a foreign trade company based in east China’s Anhui province. China has signed Authorized Economic Operator (AEO) mutual recognition agreements with 22 economies such as the European Union and Singapore, covering 48 countries and regions. Under the agreement, customs authorities cut barriers to customs procedures and facilitate international trade. Customs authorities in China and Thailand signed AEO mutual recognition agreements on March 25. This is the first of its kind reached by China and other RCEP members after the signing of the RCEP or Regional Comprehensive Economic Partnership agreement. Up to now, 43 companies in Anhui have obtained AEO certifications with Thailand. Their exports to Thailand exceeded 2.847 billion yuan ($447.26 million) in 2021 and reached 523 million yuan during the first two months of this year.
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