On December 1st, TWS Technology obtained the AEO (Authorized Economic Operator) certificate from Huangpu Customs District P.R.China, at the rank of "Advanced Certified Enterprise". After obtaining the certificate, TWS Technology can enjoy the customs clearance convenience and preferential measures of China Customs and AEO Mutual Recognition countries and districts, improving export efficiency and contributing to the safety and efficiency of the industrial supply chain.
AEO is a program developed by the World Customs Organization (WCO). It aims to promote trade security and convenience, enhance customs modernization, and promote economic growth and enterprise competitiveness. There are 5 levels of AEO enterprise certificates, and the Advanced Certified Enterprise is the highest. Being certified as "advanced" means that the company has passed the on-site audit by the professional customs certifier, and that it complies with the provisions of the Customs Certified Enterprise Standard (Advanced level) in four aspects, including internal control, financial solvency, law compliance and trade security. Currently, only 0.3% of enterprises possess the AEO advanced certificate.
AEO Advanced Certified Enterprises can enjoy benefits granted by China Customs, including a preferential customs guarantee, and lower inspection and verification frequency. Compared with the average inspection rate of about 3%-5% faced by general credit enterprises, the average inspection rate of AEO Advanced Certified Enterprises is about 0.5%. This can reduce the clearance time of products, ensuring the rapid export of products to the target market. In addition, AEO Advanced Certified Enterprises can enjoy customs clearance facilities granted by AEO Mutual Recognition countries and districts.
To date, there are 15 economies, comprising 42 countries and regions, with signed AEO mutual recognition agreements with China Customs. When AEO Advanced Certified Enterprises export goods to these countries and regions, they can enjoy the convenient and preferential measures provided by these customs.
The enterprise credit rating system and the customs certification system creates a high standard to reach for. Thanks to its management philosophy of integrity, its strict adherence to laws, and excellent safety record, TWS Technology has achieved the AEO Advanced Certified Enterprise certificate. We can now enjoy the lowest import and export goods inspection rate, the convenience of priority clearance measures, and improved customs clearance efficiency. This will reduce the cost of customs clearance for the customer, and ensure timely delivery of our lithium battery solutions.
Mr. Remus Wong, Global Vice President of Operations at TWS Technology, said, "we take pride in pursuing operational excellence, and upgrading our AEO certificate from the general to the advanced level is an important step. We are serving customers internationally, so the attainment of this prestigious certificate is a mark of quality for TWS. Especially against the backdrop of increasing uncertainty and challenges in the global trade landscape, it identifies TWS as a trusted supply chain provider."
AEO Mutual Recognition countries and districts
The 15 economies with 42 countries/regions are: Singapore, South Korea, European Union (28 countries, including the United Kingdom), Hong Kong, China, Switzerland, Israel, New Zealand, Australia, Japan, Kazakhstan, Mongolia, Belarus, Uruguay, United Arab Emirates, Brazil.