The
National Board of Revenue has moved to reduce the cost of doing
business by eliminating delays and enable companies to offer better
services.
The NBR will soon start piloting the Authorised
Economic Operator (AEO), a World Customs Organisation framework whose
major objective is trade facilitation and promotion of supply chain
security.
Masudul Kabir, team leader of customs modernisation
team of the NBR, said they would begin the piloting with the exporters
within two to three months and then expand gradually.
He made the
disclosure during a presentation on the AEO at a meeting of
France-Bangladesh Chamber of Commerce and Industry (CCIFB) at The Westin
in the capital.
The AEO is a party involved in the international
movement of goods in whatever function that has been approved by or on
behalf of a national customs administration as complying with the World
Customs Organisation or equivalent supply chain security standards.
The
AEO concept is being increasingly adopted by various customs
administrations across the world. So far, 68 countries have embraced the
system, said Kabir, who is also a commissioner of customs of the NBR.
Kabir
said an entity with an AEO status can be considered a secure trader and
a reliable trading partner. Manufacturers, importers, exporters,
brokers, warehouses, freight forwarders, consolidators, ports and
airports can be an AEO.
An
AEO will enjoy benefits such as green channel facility and have faster
processing of goods by customs, especially through reduced examination
rates and international recognition.
It will also help save time and costs and reduce multiple and complex reporting requirements, said Kabir.
To
become an AEO, companies will have to maintain appropriate record of
compliance of customs and other relevant laws, satisfactory system of
managing commercial and transport records and maintenance of approved
security and safety standards in supply chain.
The NBR official
said: “It is a win-win situation for both trade and customs. It will
increase the contribution of customs and trade partners to the economic
and social well-being of nations and help country branding.”
The
meeting was conducted by CCIFB President Tarek Elba. Sophie Aubert,
ambassador of France, and Rifat Rashid, a director of the chamber, also
spoke.
