News
The European Union (EU) and Chinese trusted traders will enjoy lower costs, simplified procedures and greater predictability in their activities, thanks to a mutual recognition agreement signed recently. Under the agreement, the EU and China commit to recognizing each other's certified safe traders, thereby allowing these companies to benefit from faster controls and reduced administration for customs clearance.
Mutual recognition of trusted traders also allows customs to focus their resources on real risk areas, thereby improving supply chain security on both sides. The EU is the first trading partner to enter into such an agreement with China, having already signed similar deals with the U.S. (2012) and Japan (2011).
