China has proposed the 4E Initiative for trade cooperation in the Asia-Pacific region
China’s General Administration of Customs has proposed the “4E AEO” cooperation initiative to foster a more open and inclusive trade environment in the Asia-Pacific region. The proposal was presented at a seminar of the APEC Authorized Economic Operator (AEO) Program in Dalian, in Liaoning Province in northeastern China, according to ECNS.
The event was attended by more than 120 representatives of customs authorities, international organizations, and AEO-certified companies from 13 APEC economies. Participants discussed global trends in the program’s development and its role in regional economic growth.
The AEO program is promoted by the World Customs Organization. It is designed to strengthen the security of international supply chains and facilitate the movement of legitimate goods.
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AEO programs are in place in all APEC economies except Papua New Guinea. Chinese customs authorities have reached agreements on mutual recognition of AEO status with ten APEC economies, including Singapore, South Korea, and Australia.
The “4E AEO” initiative aims to increase the number of companies with AEO status, expand trade facilitation measures, develop mutual recognition agreements, and enhance the effectiveness of cooperation. China also called on APEC members to build an open, inclusive, and sustainable regional trade ecosystem through AEO cooperation.
The seminar took place as part of the third APEC Senior Officials’ Meeting and related events being held in Dalian from August 17 to 28. China’s customs authorities are holding a series of events dedicated to AEO and “smart customs” from August 19 to 24.
