Unbelievable as it may seem, uncertainty around the UK’s withdrawal from the EU has continued for another month, with the seemingly never ending circling around the final deal still being done by our politicians leaving businesses and the wider public without answers.
Regardless of what happens around Brexit, there are practical steps that businesses involved in international trade can take now to safeguard their exporting status and avoid a potential flurry of additional administrative checks.
Authorised Economic Operator (AEO) is an internationally recognised quality mark indicating that your role in the international supply chain is secure and that your customs controls and procedures are efficient and compliant.
Introduced post-9/11, its creation recognised the growth in global trade and the increasing security threats to the international movement of goods which were forcing customs administrations to shift their focus away from the traditional task of collecting duties and towards securing trade flow.
Becoming AEO certified is an important strategic business decision. Recognised in more than 60 countries around the world, including all 28 in the EU, while it isn’t mandatory, having AEO status can give quicker access to certain simplified customs procedures and, in some cases, the right to fast-track shipments through some customs, safety and security procedures. This, in turn, means time and money savings as well as providing a competitive advantage in demonstrating a company’s role in the international supply chain is secure, efficient and compliant.
Any organisation involved in the international supply chain that carries out customs related activities in the EU can apply for AEO status, regardless of the size of their business. This includes manufacturers, exporters, freight forwarders, warehouse keepers, customs agents, carriers and importers, among others.
Whatever happens on March 30 and in the following months, our focus remains firmly on assessing the implications for business, seeking clarity and providing practical guidance on the key issues our members need to be aware of.
In addition to familiarising themselves with the new Customs Declaration Service currently introduced by HMRC, increasing awareness of the potential benefits of AEO, the requirements for compliance and the investment required in time and resource is a tangible action all companies involved in exporting can, and should, be taking right now.
Russell Borthwick is chief executive of Aberdeen & Grampian Chamber of Commerce.
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