Dubai Customs has welcomed 15 new companies that recently joined the Authorised Economic Operator, AEO, which raises the number of AEO member companies to 55.
The Authorised Economic Operator has seen rapid growth and development since its official launch under the aegis of the Federal Customs Authority in October 2016. New members are joining, and new mutual recognition agreements are signed.
A work plan for a future mutual recognition agreement was signed between the UAE and China in December 2018, and a mutual recognition agreement was signed with South Korea in July 2017. In November, a work plan was signed with KSA.
The new companies that joined the AEO included UPS GULF, DP World UAE Region FZE, Bollore Logistics, Modern Freight Company, Dubai Express, Emirates Steel, and others.
"The percentage of declarations done through the AEO has risen to 34 percent in 2018 ... compared to 23 percent in 2017," Ahmed Mahboob Musabih, Director of Dubai Customs said.
Musabih expected the percentage to go up to 50 percent by 2020.
"The programme helps the national efforts towards hosting a distinguished EXPO 2020. The same year, Dubai is hosting the 5th WCO Global AEO Conference. The AEO programme helped catapult the UAE to top the world’s Efficiency of Customs Procedures Index at the annual report of the Global Competitiveness of 2017," he added.
Follow Emirates 24|7 on Google News.