Bangladesh Customs under the National Board of Revenue (NBR) will soon introduce 'Authorised Economic Operator' (AEO) ensuring a win-win situation for both trade and customs by saving both time and costs, said a Commissioner of Customs on Tuesday, reports UNB.
The Customs authorities will initially go for a pilot project by this year selecting some exporters while it will go for full operation phase by phase.
Once introduced, the system will provide green channel facility for the users with faster processing of goods by customs through reduced examination rates, said M Masudul Kabir, customs commissioner and team leader of Customs Modernisation team.
"It is not mandatory for anybody, but exporters or importers will decide whether they will avail the AEO facility," he said at a function at Westin Hotel in the city today (Tuesday).
France-Bangladesh Chamber of Commerce and Industry (FBCCI) arranged the luncheon meeting with a presentation on 'Introduction of Authorised Economic Operation (AEO) in Bangladesh' by M Masudul Kabir.
French Ambassador in Dhaka Sophie Aubert, Chamber President Tarek Elba, First Secretary, National Board of Revenue Waheeda Rahman Choudhury, Joint Commissioner, Custom House, ICD, Kamalapur, Khaled Md Abu Hossain, Second Secretary, National Board of Revenue Sadhan Kumar Kundu, Assistant Commissioner, VAT Online Project Nazmun Nahar Kaiser, and Assistant Commissioner, Custom House, Benapole Sharfuddin Miah were present.
Explaining the importance of the AEO in Bangladesh, Mr Kabir said it is important for secured trade partnership, trade facilitation, and seamless movement of goods, mutual recognition and international best practices. "This system is now operational in some 68 countries," he added.
An appropriate record of compliance customs and other relevant laws, satisfactory system of managing commercial and transport records, maintenance of approved security and safety standards in supply chain are required to avail the AEO facility.
In his presentation, the Customs Commissioner said manufacturers, importers, exporters, brokers, warehouses, freight forwarders, consolidators, ports and airports can be AEO.
The system will help country branding, build Customs-Business trust, bring international recognition and will reduce multiple and complex reporting requirements.
AEO companies having their internal security will automatically
improve marketability to potential clients across the world, the
Customs Commissioner added
Ambassador Sophie Aubert said she found the AEO is very useful and hoped that more French companies will come to Bangladesh and do business with Bangladeshis in the coming days.
