China and Switzerland have signed a customs agreement on mutual authorized economic operator (AEO) status, a move that will further boost bilateral trade and economic cooperation, the country's top customs authority said on Saturday.
According to the World Customs Organization (WCO), an AEO is an organization orcompany involved in the international movement of goods that has been certified by, or onbehalf of, a national customs administration and complies with WCO or equivalent supplychain security standards.
China and Switzerland launched AEO negotiations at the start of 2015, and finally reachedthe agreement this month after three rounds of talks.
AEO programs are expected to play a key role in boosting the country's exports amidsluggish global demand, according the statement.
China's exports dipped 2 percent year on year to 13.84 trillion yuan last year, whileimports rose 0.6 percent from one year earlier to 10.49 trillion yuan.