Sheikh Hamdan launches UAE Authorized Economic Operator program
By Staff emirates247
Published Monday, October 17, 2016
Crown Prince of Dubai and Chairman of Dubai Executive Council, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, has officially launched the Authorized Economic Operator (AEO) program during day one of Gitex 2016. The AEO program is a federal program that connects the UAE with the rest of the world in terms of trade and customs.
It recognizes traders as trusted operators and provides them with exclusive benefits.
The CEO and Chairman of DP World and Chairman of Ports, Customs and Free Zone Corporation (PCFC), Sultan Ahmed bin Sulayem, gave Sheikh Hamdan a closer insight into the program, as toured the PCFC stand, in the presence of H.E. Commissioner Ali Al Kaabi, Head of the Federal Customs Authority, Mohammad Juma Buossaiba Director-General of the UAE Federal Customs Authority, and Ahmed Mahboob Musabih, Director of Dubai Customs.
Designed under the supervision of the Federal Customs Authority, the AEO program delivers a comprehensive set of benefits to certified partners, including faster clearance, preferential customs treatment and a dedicated Key Account Manager. The AEO program is set to establish strategic partnerships with other AEO programs around the world through Mutual Recognition Agreements (MRA).
Operators could include manufacturers, importers, exporters, brokers, carriers, consolidators, intermediaries, ports, airports terminal operators, integrated operators, warehouses and distributors.
His Excellency Commissioner Ali Al Kaabi, Head of the Federal Customs authority, praised the initiatives being showcased by Dubai Customs at Gitex 2016.
He said “Dubai Customs is a world-class role model in Customs work, particularly when it comes to facilitating trade and plugging security gaps internationally.”
H.E. Al Kaabi affirmed that the Authorized Economic Operator program is a quantum leap in Customs work, as such platform will efficiently serve trade flow in the UAE bringing global and home companies real added value in terms of risk record and security profile. “The UAE, represented by the FCA, has recently signed a Mutual Recognition Agreement (MRA) with South Korea during a federal delegation visit to the country.”
Sultan Ahmed bin Sulayem, said, “The pilot phase proved to be a huge success. We know that we are ready to take this into the next level. Certified AEOs will be able to make inroads into new markets thanks to the Mutual Recognition Agreements.
“Gitex is the perfect platform to illustrate the benefits that come out of being a certified AEO to the visitors. The program will help position the UAE as the number one secure and compliant international trade hub.”
Ahmed Mahboob Musabih, Director of Dubai Customs, said “The AEO program will back nationwide integrated efforts towards marking history in Expo 2020.”
He further noted that the new facility provides local and international businesses a strong competitive edge as authorised economic operators (AEOs), which positively impacts on the national economy and increases growth. The program offers high levels of compliance and safer business environment through effective risk management.