European Union and Japan agree to mutual recognition of each other’s certified traders
The European Union and Japan today signed a Decision which will simplify and speed up the customs procedures for trustworthy, certified traders between both sides. The Decision establishes the mutual recognition of Authorised Economic Operators (AEOs), which will allow these operators to benefit from enhanced trade facilitation procedures and will enable customs to focus on high-risk transactions.
This mutual recognition also helps to establish compatible standards for AEOs between both sides and promotes more harmonised customs practices and procedures worldwide, to the benefit of businesses trading at international level.
Algirdas Šemeta, Commissioner for Taxation and Customs Union, Audit and Anti-fraud said “This agreement is a milestone for two major trading partners: the EU and Japan. It fully reflects the objectives of EU customs to facilitate trade while ensuring a secure global supply chain.”
The agreement was signed at the World Customs Organisation in Brussels.