The UAE and the Republic of India have signed an Agreement on Mutual Recognition of the Authorized Economic Operator Scheme with the aim of enhancing trade and customs cooperation between the two countries through effective and expeditious implementation of the requirements of the Authorized Economic Operator Scheme. Supporting the Comprehensive Economic Partnership Agreement between the two countries that came into effect in May 2022.
The head of the Federal Commission for Identity, Nationality, Customs and Port Security, His Highness Ali Muhammad Al Shamsi, said the agreement will officially enter into force in the fourth quarter of 2023 after work on the pilot phase is completed. The Authorized Economic Operator Scheme provides an agreed set of benefits and facilities to a business entity that adheres to the standards. The Security is provided within the framework of the Standards used in the country for the security and facilitation of the supply chain. “Saif” in international trade.
He pointed out that the Republic of India is a strategic trading partner for the UAE as India ranks second in the UAE’s list of trading partners and the general volume of non-oil foreign trade between the two countries is growing. The increase indicates that there are many opportunities for economic and trade gains pushing both countries to strengthen customs cooperation.
The agreement was signed as part of the annual meeting of the World Customs Organization held in the Belgian capital Brussels at the end of June. Ahmad Abdullah bin Lahej Al Falasi, Director General of the Federal Government Customs, on behalf of the UAE, Identity, Nationality, Customs and Port Security and the UAE Customs Department. The President signed in the presence of His Excellency Ahmed Mahboob Musabih, Director General of Dubai Customs, His Excellency Mohammad Mir Abdul Rahman Al Sharjah, Director of Ports and Customs in Sharjah and Saud Salem Al Akroobi, Director of International Customs Relations Department, in the General Administration of Customs at the Authority.
His Excellency Ali Mohammad Al Shamsi added that the Agreement on Mutual Recognition of the Authorized Economic Operator Program with the Republic of India will see both countries agree on the standards of the program and exchange the list of authorized operators with these operators. Pointing out that this Agreement contributes to the strengthening of customs cooperation in mutual recognition during the implementation of customs procedures, defining joint procedures and mechanisms for the exchange of information on trade, exchange experiences, benefits, facilities and customs information between the two countries, mutual recognition, identification, the list of authorized operators between the two countries, and measuring revenue resulting from the use of mutual recognition.
Ahmad Abdullah bin Lahej Al Falasi, Director General of Customs at the Federal Authority for Identity and Citizenship, Customs and Port Security, said: “The collaboration is part of our ongoing efforts to realize the full potential of the Authorized Economic Operator Program. The Authorized Economic Operator Program for the Gulf Cooperation Council (GCC AEO) countries To create, Mutual Recognition Agreements for Authorized Economic Operator Scheme with South Korea, People’s Republic of China and Indonesia, making India the ninth country to have mutual recognition.Facility applied and agreed upon for companies recognized in the Scheme.
He emphasized that with the signing of the Mutual Recognition Agreement with India, the volume of trade covered by the Mutual Recognition Agreements of the Authorized Economic Operator Program will increase to 37.87% of the total trade for the UAE. 2022.
The mutual recognition agreement of the Authorized Economic Operator Program provides several benefits to the authorized companies in both countries, the main ones being simplification of import-related documentation, simplification of the process of clearance of imported goods and appointment of liaison officers. Customs authorities to deal with issues related to clearance of goods for authorized economic operators. The number of organizations affiliated with the program in the UAE is 113 accredited organizations.
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