The EU and the USA formally agreed to recognize each other’s safe traders. Under this agreement the U.S. will recognize all the companies certified as Authorized Economic Operators (AEOs) in the EU. Mutual recognition will bring the companies to benefit from faster controls and reduced administration for customs clearance. The agreement will come into force on 1 July 2012.
The European companies can apply for the AEO status to gain easier access to customs simplifications and to get a comparative advantage in international trade. The EU wants its major trading partners to recognize AEOs as reliable traders. So far, Switzerland, Norway and Japan have recognized AEOs and yet there is an agreement under negotiation with China. In the Czech Republic, more than 100 companies have been given the AEO status.
For more information click here.
For more information about how to obtain AEO certificate, click here.
19th June 2018
13th July 2018