TAIPEI (Taiwan News) — Taiwan’s Customs Administration announced it signed the Mutual Recognition Arrangement for Authorized Economic Operators (AEO) with Canada at the 20th Taiwan-Canada Economic and Trade Dialogue on Thursday. 

Taiwan's representative to Canada, Harry Tseng ( 曾厚仁), inked the agreement with his Canadian counterpart, Jim Nickel, according to the Customs Administration. Under the deal, both customs authorities will provide preferential measures, such as expedited clearance, to AEO exporters from each country.

The Customs Administration said the agreement marks a new milestone in bilateral customs cooperation and represents a historic step forward. It will also promote bilateral trade and foster a mutually beneficial economic partnership, the administration added.

Taiwan is Canada's sixth-largest trading partner in Asia, with bilateral trade averaging over US$5 billion annually over the past three years, it said. Canada joins nine other countries, including the US, South Korea, and Australia, which have similar AEO agreements with Taiwan.

Taiwan and Canada signed the Foreign Investment Promotion and Protection Agreement last year, which bolsters Taiwan’s supply chain connections and resilience.