China and EU to strengthen customs co-operation

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Yesterday the EU and China, which trade more than €1bn-worth each day,  signed three agreements to boost Customs co-operation. They will now recognise each other’s certified safe traders; they have set out a new strategic framework for Customs, which could help cut illegal trade such as counterfeit goods and illicit waste shipments; and they have signed a Customs Enforcement Action Plan, which will also help clampdown on fake goods.

“By agreeing to mutually recognise each other’s safe traders, the EU and China are taking a big step forward in our trade relationship. Today’s agreement is fully in the spirit of trade facilitation, by making customs procedures easier, cheaper and faster for our trusted operators,” said the EU Conmmissioner for Tax and Customs. The EU has published a good, thorough Q&A on the agreements here.