Final Requirements for Authorized Economic Operators' Accounting System Reviewed by Commission

The headquarters of the Eurasian Economic Commission (EEC) hosted a meeting of the working group on the development of the institute of authorised economic operator (AEO) in the countries of the Eurasian Economic Union (EAEU). The meeting was chaired by Alexander Titov, Director of the Department of Customs Legislation and Law Enforcement Practice. About 50 representatives of government agencies and businesses took part in the discussion.

The meeting generally approved the draft model requirements to the goods accounting system for AEO. The document takes into account business proposals on the need for a transition period to adapt systems and suggests the creation of a unified system of goods accounting for customs purposes. It will be based on bookkeeping, ensuring traceability of data and simplification of customs procedures.

In addition, the participants discussed new business initiatives aimed at expanding AEO capabilities and reducing costs. These proposals are to be finalised together with the state authorities of the participating countries. They also raised the issue of law enforcement practice related to the cancellation of the release of goods when using the procedure of release prior to declaration submission.

The Institute of Authorised Economic Operator has been operating in the EAEU since 2014 and provides for a number of customs simplifications for companies that comply with the established requirements.