Regional cooperation improves the trading environment for companies
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Networked companies in CEFTA businesses, which act as one voice for their administrations, will contribute to faster economic integration in the region and easier access to regional and international business markets. These processes will be significantly improved through participation in the Program of Authorized Economic Operators (AEO), which is one of the most successful instruments for facilitating trade at the global level. This was one of the conclusions of the AEO Association meeting held in Budva.
Full application of the criteria obtained from the Program of Authorized Economic Operators (AEO) ensures faster and easier customs clearance of goods in CEFTA companies.
“It also enables those with AEO status to be subject to fewer controls, prior notification in case of physical control, priority treatment, and mutual recognition with third parties. Recognition between the AEO program means that authorized economic entities, in addition to the benefits provided by their customs administration, will have the same treatment as other CEFTA members”, announced AEO.
“The AEO Association was founded in 2021 by the private sector in the CEFTA region as a unique voice of the business community regarding the regional AEO agenda. Companies gather on a quarterly basis to discuss the problems they face while applying for AEO status, as well as the benefits they have when obtaining the status”, the company states.
The Association was supported by the Deutsche Gesellschaft fur Internationale Zusammenarbeit (GIZ), within the project “Support for regional economic integration”, co-financed by the European Union and the German Federal Ministry for Economic Cooperation and Development (BMZ).
“The project supports the promotion of AEO development in the private sector and its mutual recognition in the region and in the EU in the foreseeable future. Moreover, companies develop a vision that identifies new opportunities to contribute to regional trade and, therefore, economies and societies”, added the AEO.
The AEO Association meeting was held as a continuation of the dialogue on the advantages of the AEO program for companies with full AEO status, for those in the application process and for others interested in learning more about submitting an application for AEO status and the advantages it has to offer.