What is in news : The Central Board of Indirect Taxes & Customs (CBIC) has inaugurated the online filing of Authorised Economic Operators (AEO) applications.

Background : AEO is a programme (2007) under the aegis of the World Customs Organization (WCO) SAFE Framework of Standards to secure and facilitate global trade.

India & IEO

• The AEO Programme was introduced as a pilot project in 2011.
• Aim of Indian AEO Programme:
  • To provide business entities with an internationally recognized certification.
  • To recognize business entities as “secure and reliable” trading partners.
  • To incentivize business entities through defined benefits that translate into savings in time and cost.
  • Secure supply chain from point of export to import.
  • Enhanced border clearance.
  • Reduction in dwell time and related costs.
  • Customs advice/assistance if trade faces unexpected issues with Customs of countries.