Business & Money | Wednesday 4 March, 2020 12:23 pm |

The World Customs Organization has approved Dubai Customs’ initiative of launching an international platform for the best practices and Authorized Economic Operator (AEO) mutual recognition agreements among AEO members. 

Dubai Customs will lead the way in facilitating the exchange of secure data between the WHO and the member customs administrations. 

The WCO endorsed the initiative in the latest Brussels SAFE sessions last October. Dubai Customs was selected to develop the AEO platform owing to its world class status in customs innovation and adoption of AI advanced technologies.

Dubai Customs has won a number of renowned awards in innovation. The last of which was the Leader Category Award from GINI, which makes it the first customs administration worldwide to get this exceptional certification.    

Other factors that encouraged the WCO to approve the AEO platform initiative is the strong international relationships and intensive network that Dubai Customs enjoys, coupled with its strategic role as a world strategic trade enabler.

“We are proud to be selected to develop and promote a global AEO platform that represents the future of the world trade,” said Ahmed Mahboob Musabih, Director General of Dubai Customs. “Our development plan will be in line with our AEO strategy 2.0 and in fulfilment of the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai of fostering the position of Dubai as a global hub for trade and tourism.” 

Musabih stated that Dubai Customs has played a pivotal role in activating and implementing the Authorized Economic Operator in the UAE under the aegis of the UAE Federal Customs Authority. There are 70 companies registered in the program now. 

Recent figures released by Dubai Customs showed that 5.6 million customs transactions have been completed through the Authorized Economic Operator in 2019, and this makes 43% of the total 13 million. 

Member companies made 36% operational cost reduction and 53% faster customs clearance. 

Director General of Dubai Customs restated the great role AEO will play in supporting national efforts to host EXPO 2020. 

The WCO has also agreed to the request of Dubai Customs and the Federal Customs Authority to reschedule the 5th WCO Global AEO Conference to 15 - 17 February 2021, in Dubai, UAE. The new date will be in conjunction with EXPO 2020, which makes it a better opportunity for all parties to exchange expertise and best practices in trade, economy, culture and innovation. 

Eman Badr Al-Suwaidy, Director of Customs Valuation Department, who is in charge of the Authorized Economic Operator program, said the program is a WCO requirement to facilitate trade, and cooperation between customs administrations and the private sector is very important. 

The Authorized Economic Operator (AEO) program is a partnership between trade community and customs administrations, in which actors in the global supply chain can apply for AEO status to receive trade facilitation benefits and, at the same time, verify and increase their level of compliance and security.