What is Authorised Economic Operators ?
Source : PIB
Economics
What is discussed under What is Authorised Economic Operators ?
- What is Authorised Economic Operators ?
- Indian AEO Programme
- World Customs Organization (WCO)
Why in News ?
Central Board of Indirect Taxes & Customs (CBIC) inaugurated the online filing of Authorised Economic Operators (AEO) T2 and T3 applications.
Key Facts
- The web application is designed to ensure continuous real-time and digital monitoring of physically filed AEO T2 and
Source : https://www.aeoindia.gov.in/index AEO T3 applications for timely intervention and expedience.
- To ensure that the processes and benefits of the programme are at par with the International best standards CBIC has thoroughly digitized the application filing processing and digitally-signed delivery of AEO certification for AEO T1 applications by way of this website.
- What is Authorised Economic Operators ?
- An Authorized Economic Operator (AEO) is defined by the WCO SAFE Framework of Standards as a party involved in the international movement of goods in whatever function that has been approved by or on behalf of a national Customs administration as complying with WCO or equivalent supply chain security standards.
- AEOs include inter alia manufacturers, importers, exporters, brokers, carriers, consolidators, intermediaries, ports, airports, terminal operators, integrated operators, warehouses and distributors.
- Indian AEO Programme
- The Indian AEO Programme, which started in 2011.
- It was designed to set standards to secure and to facilitate the ever-growing flow of goods in international trade.
- The programme has a membership of nearly 5,000 AEO entities as of now.
- This includes 5,000 economic entities which have actively collaborated with Indian Customs to ensure safety and security in the Supply Chain.
- And in return they are reaping benefits of an ever-widening set of benefits from Indian Customs such as faster processing and clearance of cargo, deferred payment of duty, direct port delivery/entry.
World Customs Organization (WCO)
- Established in 1952 as the Customs Co-operation Council (CCC).
- It is an independent intergovernmental body whose mission is to enhance the effectiveness and efficiency of Customs administrations.
- WCO represents 183 Customs administrations across the globe that collectively process approximately 98% of world trade.
- As the global centre of Customs expertise the WCO is the only international organization with competence in Customs matters and can rightly call itself the voice of the international Customs community.
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