Participants chat at an exhibition running in parallel to the 6th WCO Global AEO Conference, which opened at the Shenzhen Convention and Exhibition Center in Futian District yesterday. The three-day event focusing on sustainable world trade has attracted over 1,200 attendees from more than 100 countries and regions.
More than 1,200 participants representing customs organizations and other key stakeholders from more than 100 countries and regions have converged in Shenzhen to delve into the transformative potential of Authorized Economic Operator (AEO) programs at the 6th WCO Global AEO Conference, which opened at the Shenzhen Convention and Exhibition Center in Futian District yesterday.
It is the first time for a Chinese city to host the global conference, initiated by the World Customs Organization (WCO) in 2012. It is the highest-level conference in the field.
With the theme "Harnessing the Power of AEO Programs for Inclusive and Sustainable Global Trade," the three-day event includes insightful plenary sessions, discussions on empowering women in global trade, leveraging technology for risk management and trade facilitation, and much more.
Ian Saunders, secretary general-elect of the WCO, delivered a speech at the opening ceremony, pointing out that the conference's goal is to create a seamless, resilient, and secure global trade environment.
"We must simplify and communicate the requirements of AEO status to demystify the process, making it more accessible for micro, small, and medium-sized enterprises and ensuring a broader understanding of the compliance landscape," Saunders said. He highlighted the status of micro, small, and medium-sized enterprises, which constitute an overwhelming majority of businesses worldwide.
Wang Lingjun, vice minister of China's General Administration of Customs, stated that China calls on all participants to actively respond to the WCO cooperation initiative, continue to consolidate and deepen cooperation, use the advantages of the AEO system, and promote the sustainable development of global trade.
Shenzhen Mayor Qin Weizhong stated that holding this conference in China for the first time is of great significance for strengthening international mutual recognition cooperation in AEO programs, achieving high-level mutual benefits between enterprises, and promoting global supply chain security and trade facilitation.
Advocated for by the WCO, the AEO program is designed to strengthen international supply chain security and facilitate the movement of legitimate goods.
Companies with AEO status enjoy simplified customs procedures such as reduced examination and prioritized clearance, which significantly shortens customs clearance times and reduces storage and logistics costs.
Shenzhen Yateks Co. Ltd., a leading supplier of industrial non-destructive testing equipment whose clients are mainly from Europe and the U.S., became an AEO-certified enterprise in January. Since obtaining AEO certification, the company has seen more growth, according to Zheng Xiang, general manager of the company.
"Once the Customs authorities in the countries we export to recognize our AEO certification, we would enjoy smooth clearance processes that are highly effective and dependable," Zheng said.
Apart from seamless clearance, being certified has also brought other customs benefits for Shenzhen KTC Technology Co. Ltd., a company specializing in the manufacturing of products like TVs and advertising displays.
"We've been able to apply for processing trade supervision for enterprise groups," Wu Shujun, general manager of the logistics department of the company, said. "Since we have factories in Huizhou City and Bantian in Shenzhen, this mode helps us manage processing trade in a unified way."
By the end of 2023, China had signed AEO agreements with customs authorities in 52 countries and regions to enable easier customs clearance for companies. At the end of January, the number of AEO-certified firms in Shenzhen had jumped to 480.