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The World Customs Organisation, WCO, has approved the initiative of Dubai Customs of launching an international platform for best practices and Authorised Economic Operator, AEO, mutual recognition agreements among AEO members.
The AEO programme is a partnership between the 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.
The WCO endorsed the initiative of Dubai Customs at the latest Brussels SAFE sessions last October. Dubai Customs was selected to develop the AEO platform due to its world-class status in customs innovation and the adoption of advanced AI technologies.
"We are proud to be selected to develop and promote a global AEO platform that represents the future of world trade," said Ahmed Mahboob Musabih, Director-General of Dubai Customs, adding, "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 AEO in the UAE under the aegis of the UAE Federal Customs Authority. There are 70 companies registered in the programme now.
Recent figures released by Dubai Customs showed that 5.6 million customs transactions have been completed through the AEO in 2019, some 43 percent of the total 13 million.
Member companies achieved an operational cost reduction of 36 percent and a faster customs clearance of 53 percent.
The WCO has also agreed to the request of Dubai Customs and the Federal Customs Authority to reschedule the 5th WCO Global AEO Conference from 15th February, 2021, to 17th February, 2021, in Dubai. 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 AEO programme, said it is a WCO requirement to facilitate trade, and that cooperation between customs administrations and the private sector is very important.
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