EC adopts customs code security amendment

EC adopts customs code security amendment The European Commission on Monday adopted a regulation that ensures the on-time implementation of the so called 'security amendments' to the Community Customs Code introduced by the European Parliament and Council in 2005.
   As planned, the Authorized Economic Operator program will start in January 2008, under which cross-border shippers will earn credit for expedited customs processing by meeting three tiers of standards for tight controls over trade compliance, security, or both.
   The AEO model is comparable to the U.S. government’s voluntary Customs-Trade Partnership Against Terrorism under which importers who demonstrate that they and their suppliers follow tight supply chain security practices can receive reduced levels of security inspections for their shipments.
   From July 2009 the electronic exchange of advance information between traders and customs authorities on all goods entering or leaving the EU, will be introduced. The regulation also requires customs authorities to exchange information electronically on exports in order to speed up export procedures.
   'Customs today also plays a vital role in the fight against terrorism. However, taking into account the continuously growing global trade, we have to follow a balanced approach between security and trade facilitation,' said L'szl' Kov'cs, the commissioner responsible for Taxation and Customs. 'Reliable traders must benefit from sufficiently far-reaching trade facilitation measures.'
   In the summer, a coalition of 16 industry associations including the World Shipping Council, the European Express Association, the American Chamber of Commerce to the European Union, Freight Forwarders International and the European Shippers’ Council, asked the EC to extend the deadline for implementing the security amendments to give member states time to fully automate trade processing systems.