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Taiwan and Korea Sign the Arrangement for Mutual Recognition of AEO to Facilitate Bilateral Trade

The Mutual Recognition Arrangement (MRA) of AEO between Taiwan and Korea was signed at the Customs Administration, Ministry of Finance on December 22, 2015. Through the Arrangement, Taiwan and Korean Customs are able to mutually recognize the AEO status validated by each other. Exporters awarded AEO status from both Taiwan and Korea can enjoy the preferential treatments such as trade facilitation at both sides.

The Arrangement was signed by Representative Shih Ting of the Taipei Economic and Cultural Office for the Taipei Mission in Korea and Representative Cho Baek-sang of the Korean Mission in Taipei, while it was witnessed by Taiwan Customs Administration’s Director General Chuang, Shui-Chi and Korean Customs’ Director General of Audit Policy Bureau Lee Chan-Kie. In addition, among the other more than 200 persons witnessing the ceremony are customs officers from both customs administrations as well as representatives from relevant government agencies, associations, and exporters awarded AEO status of Taiwan side.

At the signing ceremony, Director General Chuang stressed that the inking of this Arrangement symbolizes a historic milestone for the customs cooperation between the two countries. This Arrangement is one of the four MRAs Korea signed in 2015 with the country featuring the largest bilateral trade volume. In view of the fact that Korea is the sixth largest trading partner of Taiwan, as the trade volume between Taiwan and Korea in 2014 amounted to NT$27.5 billion, the MRA will bring substantial economic benefits to both sides. It is expected that, through continuing to work closely, both administrations will further generate favorable environment for bilateral customs cooperation and will ensure that trade facilitation and supply chain security for both countries will be enhanced.

Taiwan Customs has implemented its AEO program since December 2009 and there have been 616 AEOs as of today, including 306 general AEOs and 332 Safety and Security AEOs, whose import/export value accounts for 40% of our total trade volume. In addition, Taiwan already signed AEO MRAs with the United States, Singapore, and Israel in November 2012, July 2013, and December 2013, respectively. And this Arrangement is the first AEO MRA of Taiwan its signing ceremony is held in Taiwan Customs Administration.

Taiwan Customs Administration further indicates that, with the signing of this Arrangement, Taiwan exporters awarded Safety and Security AEO status will be directly benefited. Through the mutual recognition of AEO status validated by the other side, the AEO-certified exporters from both countries are able to enjoy preferential customs procedures and treatments at the other side, whose competitive edge will be significantly enhanced through their access to the trade environment of facilitated customs clearance procedures, strengthened supply chain security, and just-in-time & zero-inventory logistics management. In addition, it will have a far-reaching influence on the bilateral trade, bringing the economic prosperity of both countries to another new dimension.

News contact: Mr. Lin
Tel: 02-25505500 ext. 2566

  • Publish Date:2015-12-22
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