Brazil and China signed a customs agreement, which provides for the mutual recognition of Authorized Economic Operator (AEO) certifications issued by the customs authorities of both countries.
The initiative between the Chinese Commercial Accreditation Management Program and the Brazilian Authorized Economic Operator Program was signed during President Jair Bolsonaro's trip to China on October 25, Brazil's Federal Revenue Secretariat reported.
The Authorized Economic Operator (AEO) Program is a trade facilitation tool provided for in the Global Trade Facilitation and Security Regulatory Framework (SAFE) of the World Customs Organization (WCO). It is also one of the commitments of the World Trade Organization (WTO) Trade Facilitation Agreement (TFA) concluded at the Bali Ministerial Conference in 2013.
Mutual Recognition Agreements (MRAs), voluntary trade facilitation instruments, are signed between partner countries that have an Authorized Economic Operator Program and follow the standards proposed in the SAFE framework. The main objectives of an MRA are: recognition of AEO certifications issued by the customs of the other country; priority handling of cargo and consequent reduction of costs associated with storage; reciprocal commitment to the provision of comparable benefits; predictability of transactions; and improving the competitiveness of AEO companies in international trade.
The Agreement was signed by the Minister of General Administration of Customs of the People's Republic of China (GACC), Ni Yuefeng, and the General Coordinator of Customs Administration, fiscal auditor Jackson Aluir Corbari, who represented the RFB at the event.
China is Brazil's largest trading partner. In 2018, 3600 Brazilian companies filed 80,000 export declarations to China, worth US$ 63.93 billion, representing 26.7% of our total exports. In imports, 25 Brazilian companies registered 680 import declarations, worth US$ 27.12 billion, representing 19.2% of our imports. In 2018, China had a trade surplus of approximately US$ 352 billion relative to the entire world, however, in Brazil-China trade, the surplus is Brazil's, of almost 30 billion.
China is Brazil's largest commercial partner.
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— Federal Revenue (@ReceitaFederal) October 30, 2019
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