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On the morning of 24th, September, we were awarded by Sanshui Customs with AEO certification. Five leaders from Sanshui Custom office visited our company and awarded us with the AEO Certificate. Mr Lim Meng Poh, the Acting General Manager, with other staff of our company participated in the ceremony. We now officially become the first grade enterprise certified by Sanshui District in accordance with the regulations for the AEO authentication.

With the development of regional economic integration and economy globalization, close exchange of international traders is required to further promote the prosperity of economy, while trivial trade formalities and cross-border system has now become the obstacle of international trade. In June, 2015, the World Customs Organization issued the Framework of Global Trade Security and Facilitation Standards and introduced the concept of “Authorized Economic Operator (AEO)”. In recent years, countries all over the world have relied on bilateral negotiation for realization of international mutual recognition as AEO enterprise so as to enjoy convenient customs clearance.
According to credit grading, the enterprises are categorized as Authorized Economic Operator (AEO), operators with general credit and operators losing credit. In the principle of getting convenience by being honest and complying with the laws, while getting punishment for losing credit and breaking the laws. Customs implement different management measures for import and export enterprises to lead and promote them for the pursuit of being honest and law-abiding, regulative operation. The top grade certified enterprise is the highest credit class for customs to manage enterprise credit.

 

In May, 2015, we submitted the application to apply for Top Grade Certified Enterprise, GZ Customs has established a work group rapidly to carry out the authentication and visited our company on the site to investigate the document system, review daily working records, arrange meeting with our top management and persons in charge of related business departments, and verify all data information. In accordance with Article 18 and 63 as stated in the Standards for Enterprise Recognized by Customs, they have completed the authentication on the internal control, financial index, law and regulations, trade security and so on. Finally, we have passed the audit with 97 scores and obtained the approval by all members of the group working on the authentication, which means we can handle warranty formalities for the inspection and release of the goods and don’t require provide L/G from banks or deposit payment. With this privilege, there is a great saving on financial cost, hence we have the access for priority in the process of customs clearance.

At the awarding ceremony, both parties had a cordial conversation. Leaders from the Customs department has given full affirmation of our management work on the import and export of goods, and expressed their congratulations to us of being the first Authorized Economic Operator (AEO). Meanwhile, they put forward their hope that PMI can carefully review relevant custom trend and policies completely, accurately, and well use of the relevant policy preference so as to run the business honestly and legally. Later they have indicated that they would like to continually support the development of our company as before.

The obtained the AEO certificate symbolizes that we have taken further step on the road of operation in good faith and getting stable and fast development. Our work of regulative management has already acquired effectiveness and lead to a higher level on production operation. It’s an honor but also a kind of encouragement and motivation for us to get the AEO certificate. We will appreciate the honor, carefully study the regulations of the custom policies, strictly comply with all laws and regulations, strengthen the internal management control, operate legally and honestly, apply regularly and pay the taxes in accordance with the laws so as to accelerate the transformation of the company strategy, penetrate wider industry marker and further improve our core value in competiveness, capability to generate more profit, ultimately to realize a great step toward the further expansion of our company.