New framework for safe, secure global trade
1 June, 2018, 4:02 pm
THE Fiji Revenue and Customs Service (FRCS) today implemented a new framework aimed at ensuring global supply chain security and trade facilitation.
The service rolled out Fiji’s first Authorised Economic Operator (AEO) Pilot launch, an under the World Trade Organisation Trade Facilitation Agreement.
The seven AEO Pilot members are Biscuit Company of Fiji Ltd, Central Manufacturing Company Ltd, Hard Rock Café (Fiji) Ltd, KIA Motors Ltd, Natural Waters of Viti Ltd, Victus Ltd t/a Burger King and Vodafone (Fiji) Ltd.
FRCS chief executive officer Visvanath Das said this was a great milestone achievement for Fiji Revenue and Customs Service to implement the AEO framework.
“High trade volumes makes it difficult for Customs administrations to examine and verify each and every package going out of country or coming in,” he said in a statement.
“The AEO program guidelines and procedures ensures the security and safety of the country or region through regularising the flow of goods.”
Mr Das said the AEO program would also provide members international recognition of their commitment for secure trade.
Benefits for AEO members include measures to expedite cargo release, reduce transit time and lower storage costs, providing access to information of value to AEO participants, special measures relating to periods of trade disruption or elevated threat level and first consideration for participation in any cargo processing programs