KTC Technology Shines at the 6th WCO Global AEO Conference
Leveraging AEO Advantages for Strategic Global Expansion
May 8th, Shenzhen, China - The 6th WCO Global AEO Conference, jointly hosted by the World Customs Organization, the General Administration of Customs of the People's Republic of China, and the People's Government of Shenzhen Municipality, commenced in Shenzhen. Over 1,200 delegates from more than 100 countries, including government officials, international organizations, business and academic leaders, gathered to discuss and exchange ideas on pertinent topics.
AEO, which stands for Authorized Economic Operator, is a pivotal system under the WCO's SAFE Framework of Standards to Secure and Facilitate Global Trade. The program aims to minimize customs supervision risks through cooperation between customs authorities, businesses, and other government departments, enhancing global supply chain security and trade facilitation for mutual benefits and smooth trade flows.
This system involves a certification by customs authorities based on a company's credit status, compliance, and safety levels. Certified companies receive favorable treatment and expedited clearance. China has signed AEO mutual recognition agreements with 28 economies, covering 54 countries and regions, benefiting over 5,800 high-level certified enterprises with streamlined customs procedures both domestically and abroad. These agreements position China as a global leader in the number of signed agreements and participating countries.
KTC Technology, as one of China's representative AEO enterprises, made a significant impression at the conference with its latest display technologies, including smart interactive flat panels and innovative display products. The showcase attracted substantial media attention.
KTC operates four AEO high-level certified companies: Shenzhen KTC Technology Co., Ltd., Shenzhen KTC Commercial Display Technology Co., Ltd., Shenzhen KTC Medical Solutions Co., Ltd., and Huizhou KTC Technology Co., Ltd.
Since its certification in 2020, KTC Technology has enjoyed a range of facilitations and benefits that significantly reduce international trade costs and enhance competitiveness. The company can also take advantage of expedited clearance provided by economies that have mutual recognition agreements with China.
According to KTC Technology's 2023 annual report, the company reported revenues of approximately 13.4 billion yuan, with exports accounting for about 84% of its total revenue. This performance underscores KTC Technology’s impact and reputation in international markets. Leveraging its AEO high-level certification, KTC has been able to more easily access multiple international markets, expanding its business scope and market share. This has not only enhanced their brand image and competitive edge but also optimized their supply chain management and strengthened risk management, driving high-quality development of the enterprise.