China: Petroleum Equipment Kerui Petroleum Passed AEO Evaluation

Editor: Alexander Stark

Kerui Petroleum has become one of China’s first companies to be qualified by the Authorized Economic Program of the World Customs Organization.

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Yang Xian (left), Chairman of Kerui Petroleum, at signing ceremony
Yang Xian (left), Chairman of Kerui Petroleum, at signing ceremony
(Source: Business Wire)

Dongying/China — China’s first Customs Inspection Station for high-end petroleum equipment built by Kerui also passed evaluation. The onshore export/import gateway will start operation on December 13, 2016.

AEO is an enterprise grading certification system initiated by WCO to support secure and smooth global trade. The World Customs Organization (WCO) is an intergovernmental organization headquartered in Brussels, Belgium.

As an AEO-certified member, Kerui Petroleum will be entitled with priority customs clearance services and customs clearance convenience at other AEO-certified Customs in countries and regions that have mutual recognition with China. Meanwhile, the Customs Inspection Station will serve as an “onshore gateway” to overseas markets, the company announced, adding that the station will not only improve the efficiency of inbound/outbound logistics of equipment, but also reduce the logistics costs. The petroleum company expects the clearance time for a container to be reduced from three days to just one day, and the cost to be reduced by around 30 %.