Bangladesh launches AEO system to improve port facilitation
Dhaka, Feb 24 (UNI) Bangladesh's National Board of Revenue (NBR) has launched the Authorised Economic Operator (AEO) system, initiated by the World Customs Organisation, to provide a seamless clearance facility between ports and factories.
Under the system, which was launched here Sunday, the AEO-certified businesses will be able to directly transport cargo from ports to their factories or warehouses through a green channel without undergoing physical inspections.
Speaking at the launching ceremony, Bangladesh Investment Development Authority Executive Chairman Chowdhury Ashik Mahmud Bin Harun said the AEO will reduce the burden on both the NBR and businesses leading to improved port facilitation.
Officials said the AEO system also provides international benefits if reciprocal agreements are in place with other countries, allowing certified businesses to enjoy similar privileges abroad.
Introduced by the World Customs Organisation in 2007, the AEO system aims to enhance global supply chains and expedite trade.
