EU-Japan AEO mutual recognition
HMRC have issued a Customs Information Paper (CIP) dealing with a new mutual recognition status relating to Authorised Economic Operators (AEO’s) in the EU and Japan.
AEO is effectively a recognised quality mark of a business’ customs control and operating procedures. Businesses that are actively involved in international trade and hold the AEO standard can in many cases fast-track shipments by reducing the number of safety and security checks performed by HMRC and other EU tax authorities. The AEO status became effective with effect from 1 January 2008 and the status is recognised across all EU member states.
The new mutual recognition agreement will allow the AEO status of UK businesses to be taken into consideration for risk management purposes by the Japanese authorities on import into Japan. The AEO mutual recognition agreement became operational on 24 May 2011.