HONG KONG, January 13, 2014—With a commitment to customsleadership, FedEx Express (FedEx), a subsidiary of FedEx Corp. (NYSE:FDX) and one of the world’s largest express transportation companies, has been awarded anAuthorized Economic Operator (AEO) Tier 2 accreditation by the Hong Kong Customs and Excise Department (C&ED). FedEx is the first international air express transportation company to receive such recognition.
In 2012, FedEx was first named AEOwith Tier 1 status for its world-class reliability and security standards. This year, FedEx hasearned itselfthe advanced Tier 2 qualification by fulfillingadditional pre-determined supply chainsecurity and safety criteria[1]. With this Tier 2 accreditation, FedEx shipments will receive prioritized customs clearance and privileged benefits under mutual recognition arrangements with other AEO-enabled markets, in addition to those Tier 1 benefits.
“Despite today’s increasingly global marketplace, customs clearance is often a challenge for businesses who want to go international,”said Anthony Leung, managing director of FedEx Express, Hong Kong and Macau. “That is why we at FedEx are committed to continuously redefining customs efficiency and reliability standards. With the Authorized Economic Operator advantages, combined with our local expertise and tools for customs clearance around the world, we are empowered to bring unparalleled border efficiency and open up access to opportunities worldwide for our large and small customers.”
In accordance with the World Customs Organization (WCO) SAFE Framework of Standards to Secure and Facilitate Global Trade (SAFE Framework), the Hong Kong C&ED’sAEO program is a customs-to-business partnership that aims to strengthen international supply chain security and facilitate global trade.It allows flexible customization of security measures based on individual company’s business model, operation size, risk profile and other related factors.Companies have to meet a range of pre-determined security and safety standards in order to be accredited as AEOs and enjoy customs facilitation and benefits.
As an AEO-enabled market, Hong Kong is entitled to better trade facilitation with other AEO-enabled markets, including China, India, Japan, Korea, Singapore, Taiwan, EU and the U.S., through planned implementation of mutual recognition arrangements.
[1]HK C&ED, http://www.customs.gov.hk/en/trade_facilitation/aeo/status/index.html