UAE, China sign Memorandum of Mutual Recognition of Economic Operator

UAE, China sign Memorandum of Mutual Recognition of Economic Operator

ABU DHABI, 28th November, 2021 (WAM) -- The Federal Authority for Identity, Citizenship, Customs, and Port Security (ICA) has recently signed an explanatory memorandum with the General Administration of Customs of China, that includes a joint mechanism for implementing the Mutual Recognition Agreement of the Authorised Economic Operator Programme.

The move aims at enhancing customs and trade cooperation; exchanging experiences, benefits, facilities, and customs information between both countries; defining joint work procedures and mechanisms for exchanging Information on mutual recognition and identification of the list of authorised operators of both countries; and measuring returns from the mutual recognition.

The explanatory memorandum was agreed upon virtually, between Suoud Al Agroobi, Director of the ICA International Relations Department, and Zhang Xiuqing, Deputy Director-General of the Projects, Control, and Audit Department.

This comes at a time when the total volume of non-oil trade exchange reached record rates between both countries, despite the repercussions of the Coronavirus Pandemic, reaching more than AED174 billion in 2020. The total volume of non-oil trade exchange is expected to increase in the current year at large rates exceeding those achieved in 2020, where the total volume of non-oil trade exchange between both countries in the first half of 2021