The EU and Canada are launching new customs cooperation. The agreement brings priority treatment to the merchants and increases the reputation of certified economic operators.
The European Commission (EC) announced on Friday that on August 1, an agreement between the EU and Canada entered into force, which simplifies and strengthens customs cooperation between the two parties and is aimed at facilitating mutual business relations. Informs the TASR newsletter,
The Commission has confirmed that from Friday officially, the agreement on mutual recognition between the EU and Canada for the programs of approved economic operators, which further facilitates business contacts and strengthens customs cooperation between the two parties.
The agreement helps to streamline customs processes and increase the safety of the supply chain for businesses on both sides of the Atlantic, recognizing the program of approved EU economic operators (AEO) and the Canadian Partner Protected Initiative (PIP), helping to streamline customs processes and increase the security chain of the EU and Canada.
Agreement will help increase standards
Authorization under any of these programs will strengthen the merchant’s reputation as a safe and reliable partner, which increases the brand’s marketability and power. Improved reputation stems from strict requirements of reviewing and compliance programs that signal to partners and regulatory authorities that the company meets the high standards of security, reliability and credibility.
In addition, the Agreement on Mutual Recognition (MRA) helps businesses manage comprehensive global logistics and maintain higher safety standards. It also facilitates trade between the EU and Canada by complying with the legal framework of the Safe Customs Organization (WCO) and supplementing the comprehensive EU economic and commercial agreement with Canada (CETA).
Another advantage for traders is to reduce the number of controls and faster customs equipment. Both the Praised EU economic operators and the Canadian PIP members have priority treatment at the borders, their status is favorably assessed in customs risk assessments. This means a smaller number of checks and faster processing of shipments, which saves companies time and cost.
