Abstract
Customs clearance operations of goods can be facilitated if importers, forwarders, or logistics operators have obtained the status of Authorized Economic Operator (AEO). The simplification of customs formalities, as well as a lower number of document-based customs controls and of physical inspections, speed up the international trade flows and reduce the delivery time of goods. The World Customs Organization (WCO) has promoted the implementation of standardized procedures since 1970s. On this matter, the WCO adopted the Kyoto Convention in 1974 and the Revised Kyoto Convention (RKC) in 1999. The article analyzes the role of the AEO status in Vietnam and in the European Union, and the opportunities of customs cooperation between Vietnam and the European Union, taking into consideration the Free Trade Agreement (EVFTA) which entered into force on August 1, 2020.
Highlights
The transport of goods has been revolutionized since the end of the Second World War
The AEO (Authorized Economic Operator) is an instrument that has been designed for offering advantages and preferential treatment to economic operators and business integrated in the international supply chains, principally in terms of reduced numbers of customs administrative controls and physical inspections
In relation to the main purposes of the AEO program, enterprises and economic operators are encouraged to cooperate with customs authorities in order to establish a functioning mechanism of collaboration pertaining to customs procedures simplification
Summary
The transport of goods has been revolutionized since the end of the Second World War. In the current global trade scenario, it is useful to bear in mind that the simplification of customs-related operations is an important feature, as de facto it influences positively the global value chains and the opportunity of cost savings thanks to delivery time reduction, and it increases the level of efficiency of the supply chains. On this matter, the AEO (Authorized Economic Operator) is an instrument that has been designed for offering advantages and preferential treatment to economic operators and business integrated in the international supply chains, principally in terms of reduced numbers of customs administrative controls and physical inspections
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