Israel and China have signed a roadmap agreement laying out policies that are expected to significantly boost trade.

The Authorized Economic Operator (AEO) agreement simplifies the customs approval procedure, settling on a recognised standard set of rules.

Once the final agreement is signed, approved Israeli companies will be able to take a “bureaucratic shortcut” for their exports, getting an expedited approval process and having to deal with fewer logistical hurdles. “The mutual recognition programme streamlines and simplifies trade between two countries, in this case between Israel and China, while maintaining a high level of enforcement,” Israel Tax Authority director Moshe Asher said.

“The relief granted to members of the trade community due to their participation in the programme is expressed through saving time and money, which is of beneficial interest in Israeli companies, exporters and importers and makes them more attractive to global trade market,” he said.