The Canada Border Services Agency (CBSA) announced this Thursday (03.11.2022) the signing of a Mutual Recognition Agreement (MRA) with the Tax and Customs Directorate (TAXUD) of the European Union (EU), which will promote the AEO program by providing facilities for certified companies to carry out foreign trade operations between both parties in an agile and safe manner.
This instrument is important for Canada, as it is the second largest trading partner after the United States, reaching USD 88,2 billion in trade in goods in 2021, according to the statement.
The signing took place during a meeting of the Canada-EU Joint Customs Cooperation Committee in Brussels, Belgium.
This Canadian MRA is in addition to the mutual recognition agreement signed with the customs administrations of Australia, Hong Kong, Israel, Japan, Mexico, New Zealand, Peru, Singapore, South Korea and the United States.
It should be noted that the AEO is a standard of the SAFE Framework of the World Customs Organization (WCO) that has become a flagship partnership program between Customs and the private sector that work to secure the logistics chain and that allows certified companies, after meeting the established requirements, to access a series of facilitation benefits.
In this way, they have reduced levels of control, simplified procedures and a high reputation for trade operations, both nationally and in other countries. Thanks to the AEO program, Customs Administrations achieve more efficient risk management.
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
