Published on: July 7, 2021

AUTHORIZED ECONOMIC OPERATORS PROGRAM

AUTHORIZED ECONOMIC OPERATORS PROGRAM

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

http://m-sar.uk/about-us-1/ 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.