These agreements are voluntary, signed by countries that already have integrity programs and seek to enable operations between the parties.
According to the Federal Revenue Service, the main objectives of the agreement are the recognition of certifications. OAS issued by the Customs of the other country, priority treatment of cargo and consequent reduction of costs associated with storage, reciprocal commitment to offering comparable benefits, Predictability of transactions and improved competitiveness of AEO companies in international trade.
In the agreement, China offered Reduced percentage of document inspection; relatively low percentage of merchandise inspection in import and export; priority for checking any cargo selected for physical inspection; designation of a contact point in Chinese Customs for communication, in order to resolve problems faced by Brazilian Authorized Economic Operators (AEOs) during customs clearance in China; granting of priority in clearance when services return to normal after disruption to international trade due to increased security alert levels, border closures and/or the occurrence of natural disasters, dangerous emergencies or other significant incidents.
The expectation is that The benefits will come into effect soon, allowing not only Brazil to enjoy the prerogatives granted by China in relation to Brazilian exports, but also enabling importers of Chinese products in Brazil to effectively see the benefits reflected in their operations.
Two points deserve highlighting in this scenario.the possibility of to minimize storage costs, a burden that is always significant for importers, giving rise to Priority is given to cargo and predictability in transactions.. This is because, in practice, there are frequent and varied interpretations of the same aspects of an import, which creates legal uncertainty for those who intend to import or already import from China.
Does your company already have OEA certification to enjoy all these benefits and stand out with Brazil's largest trading partner?
Contact our team to learn more about joining the AEO Program.
Source: Federal Revenue Service
News commented on by Laura Ivasco, Lawyer, graduated in Law in 2010 by Anhanguera/SP. Area of Expertise: Customs Law, Foreign Trade. Brazilian Bar Association (OAB): 312.237.
