Midea Residential Air Conditioner Plans Business Expansion in Southeast Asia Following China-Thailand Mutual AEO Agreement

Guangzhou, China, November 6, 2022 /PRNewswire/ — To 28 Oct Beijing time when company Representatives from Midea Residential Air Conditioner Division (“Midea RAC”) attended an online certification observation meeting as part of the Authorized Economic Operator (AEO) Mutual Recognition Action Plan between Customs Authorities of China and Thailand (“the plan”).

The purpose of the virtual meeting as part of the plan’s protocols was to allow Thai Customs to better understand the field certification process performed by Chinese Customs and to facilitate face-to-face communication between the two countries’ customs authorities. In addition, it helped Thai customs to gain extensive knowledge of China Benchmark company and contributed to streamlining the process of mutual AEO recognition between the two countries.

During the meeting, Midea RAC demonstrated its compliance and standardized management skills as a Chinese AEO benchmark company in enterprise management, IT-based control, trade security control and other aspects to Thai Customs.

Midea RAC has met the specified standards as part of the AEO program and was certified by Chinese customs as “Advanced Certified Enterprise” (ACE) in 2016. In April this year, it was selected by China Customs as one of the first batches of AEO companies with international mutual recognition for observation purposes, to serve as a benchmark for other companies on how to conduct themselves in relation to the AEO mutual recognition process.

Liu Quanfa, Head of Global Customs Affairs, Midea Group, said, “As a leading large Chinese foreign trade company, Midea RAC products are exported to China Thailand, Malaysia, and many other Southeast Asian countries. Thanks to the AEO system, the customs clearance process has been significantly simplified and accelerated, allowing us to expand our domestic business South East Asia without any bureaucratic hurdles.”

The AEO scheme is supported by the World Customs Organization, in which member countries’ customs authorities certify manufacturers who have demonstrated a higher level of compliance, creditworthiness and security, and provides prioritized and expedited customs clearance for those who pass the certification. An AEO can enjoy reduced customs controls and priority clearance when shipping goods between the two countries that have mutual recognition agreements.

Midea RAC specializes in research and development, production and sales of household air conditioner, and has a complete industrial chain. In line with the group’s mission to create a digital and information-based company that offers technology leadership and direct access to users, as well as being a technological innovator, Midea aims to become a global leader in home air conditioning and Products export nearly 400 million users in 200 countries and regions worldwide.

As customs of both China and Thailand Having pledged to accelerate AEO mutual recognition talks under the plan, Midea RAC is expected to reduce trade-related expenses such as port, insurance and logistics costs and boost production at its factory in Thailandenhance international competitiveness and streamline its development roadmap, which includes participation in the Regional Comprehensive Economic Partnership (RCEP).

SOURCE Midea RAC

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