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The Mutual Recognition Arrangement (MRA) on AEO between Taiwan and Korea will be in operation on October 1, 2016

According to Customs Administration of Ministry of Finance, the Mutual Recognition Arrangement on Authorized Economic Operators (AEO) between Taiwan and Korea will be put into operation from October 1, 2016. Starting from the commence date, AEO exporters are eligible to enjoy benefits provided by Taiwan Customs and Korea Customs under this MRA. The implementation of this MRA will mutually accept AEO status, give preferential treatment which corresponds with AEO status of both countries, and thus effectively enhance cross-border trade security and facilitation for both sides, and thus promote bilateral trade.

Customs Administration further points out that the said MRA was signed in December 2015. After completing a successful three month Pilot test from March to June this year, both Customs administrations decided to fully implement this MRA.

Customs Administration explains that, to receive MRA benefits from Korea Customs, Taiwan Security and Safety AEO exporters need to log in the “Taiwan AEO Certification and Management System” to confirm their intention to participate in this MRA, and inform their importers in Korea to update the OBPC (Overseas Business Partner Code) Issuance Application Form by adding AEO codes of the exporters.

Taiwan Customs has introduced its AEO program since the end of 2009, and there are more than 350 Security and Safety AEOs. In view of the fact that the trade volume between Taiwan and Korea in 2015 amounted to more than US$25 billion, the operation of this MRA will substantially promote both countries’ economic and trade development, added by Customs Administration.

Currently, Taiwan has signed MRAs on AEO with the United States, Singapore, Israel, and Korea. It is expected that more AEO MRAs will be signed between Taiwan and other countries in the near future, which can effectively bolster Taiwan’s competitive edge in the international economic and trade community.

  • Publish Date:2016-09-30
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