During a recent meeting, US Customs and Border Protection (CBP) and EU Taxation and Customs Union Directorate agreed to language for the US-EU Mutual Recognition Decision that will lead to its signing in June 2012. Once signed, the Mutual Recognition Decision will recognize, with reciprocal benefits, the respective trade partnership programs of the US Customs-Trade Partnership Against Terrorism (C-TPAT) and EU Authorized Economic Operator (AEO). Also, with this Mutual Recognition Decision, Customs on both sides of the Atlantic will be able to focus their resources on real risks, thereby ensuring greater supply chain security.
Included in this Mutual Recognition Decision, are benefits for certified businesses and traders:
- Reduced costs and time delays
- Less red tape
- Greater ease and predictability in the movement of goods
- New trade opportunities
All the initiatives discussed during the meeting between the US and EU can be found by clicking here.