Zhejiang Crystal Optoelectronics Co in Taizhou, Zhejiang province, was busy preparing for a batch of electronic components bound for Latin America on Jan 15.

Following the recent signing of a mutual recognition agreement of authorized economic operator (AEO) status between China and Ecuador, the number of economies with such agreements with China has now reached 30, encompassing 56 countries and regions.

In Taizhou, numerous enterprises are capitalizing on this opportunity by expanding into the Latin American market, with Crystal Optoelectronics being an outstanding example. General Manager Wang Zhenyu said, "The status of being an AEO enterprise enhances our corporate image during market expansion. The certification process also serves as a self-assessment, boosting our market competitiveness."

Similarly, Era (Zhejiang) Co, specializing in piping systems, has made significant strides in the Latin American market. In 2024, the company saw rapid growth in the region, with trade volume in Ecuador surging by over 30 percent.

Weng Yelong, the company's customs affairs manager, highlighted, "With the backing of the AEO policy, our company benefits from expedited customs clearance, driving our expansion into Ecuador and beyond in Latin America."

Jiang Pengcheng, head of the enterprise management department at Taizhou Customs, emphasized that AEO enterprises can enjoy advantageous measures such as lower inspection rates, priority inspections, designated customs liaisons for issue resolution, and expedited customs clearance.

Latin America has long been an important trade market for Taizhou. From January to November 2024, Taizhou's total import-export volume with Latin America hit 24.59 billion yuan ($3.35 billion), a 2.68 percent year-on-year increase. Exports reached 23.29 billion yuan, up 2.09 percent, while imports surged to 1.30 billion yuan, a 14.49 percent rise.