India-UAE sign pact for AEOs for faster customs clearances
New Delhi:Â India and UAE on Friday signed Mutual Recognition Arrangement (MRA) for authorised economic operators (AEOs) of both countries, the CBIC said.
The AEO programme enables Customs administration to identify safe and compliant exporters and importers and to provide them better facilitation. Under MRA, Customs authorities recognise AEOs of both countries, which in turn helps expedite customs clearances.
”In pursuance of greater trade facilitation & ease of doing business, India & UAE signed the Mutual Recognition Arrangement for Authorised Economic Operators of both countries today, on sidelines of the 141st/142nd sessions of WCO Customs Co-operation Council meeting, in Brussels,” the Central Board of Indirect Taxes and Customs (CBIC) tweeted.
Earlier in September 2021, India and the US had signed a MRA AEO. The Customs authorities of both countries have already evaluated each other’s AEO programme and are working to quickly implement the reciprocal arrangement for authorized economic operators.
