Authorised Economic Operators Programme:
The Central Board of Indirect Taxes & Customs (CBIC) has inaugurated the online filing of Authorised Economic Operators (AEO).
- The new version (V 2.0) of the web application is designed to ensure continuous real-time and digital monitoring of physically filed applications for timely intervention and expedience.
Authorised Economic Operator (AEO) Programme:
- AEO is a programme under the aegis of the World Customs Organization (WCO) SAFE Framework of Standards to secure and facilitate Global Trade.
- The programme aims to enhance international supply chain security and facilitate movement of legitimate goods.
- AEO is a voluntary compliance programme.
- Under this programme, an entity engaged in international trade is approved by Customs as compliant with supply chain security standards and granted AEO status & certain benefits.
- Benefits of AEO status include expedited clearance times, fewer examinations, improved security and communication between supply chain partners.
- In June 2005 the WCO Council adopted the Framework of Standards to Secure and Facilitate Global Trade (SAFE Framework) that would act as a deterrent to international terrorism, to secure revenue collections and to promote trade facilitation worldwide.
- It prescribes baseline standards that have been tested and are working well around the globe.