As part of a coordinated approach to secure international trade the European Union (EU) is introducing rigorous new procedures aimed at improving supply chain security.
The aim of this security modification is to improve and make more transparent the controls over the international movement of goods. The "Authorised Economic Operator" (AEO) regime will introduce an EU-wide accreditation scheme.
It is expected that businesses with AEO status will be included in a database from next year on that will be accessible both for the authorities and for clients. Although this measure is included in the customs code and direct control will be the responsibility of customs authorities, please note that it does not only impact customs status but also has a significant influence on tax aspects as well as the financial actions and IT systems of the business.
The changes will affect almost every aspect of any business that buys, sells or moves goods into or out of the EU, or whose activities are related to these transactions in some other way. In other words the measure will cover all businesses involved in the entire supply chain.
Businesses that want to meet the AEO requirements need to start preparing now for the necessary changes to systems, supply chains, buyer and seller relationships and customs procedures.