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ABU DHABI / WAM
According to the Federal Customs Authority (FCA), the number of registered companies that benefitted from the advantages offered by the Authorised Economic Operator, AEO, Programme in the UAE totalled 55 at the end of 2019.
Another 15 companies plan to join the programme, which will bring the number to 70 participants by the end of January, it added.
The programme aims to assist in trade and simplify tax procedures for companies that commit to customs and security compliance standards related to supply chains.
Ali Saeed Matar Al Niyadi, Customs Commissioner and FCA Chairman, said that the UAE is keen to open up to global economies, develop partnerships and cooperative ties with other countries and apply the best global practices, in line with the UAE Vision 2021 and the strategic trends of the national economy.
He also noted that the programme is a tool for reinforcing the openness of the nation’s economy to global markets, by assisting with trade and enhancing the country’s competitiveness in various business environment, attraction and logistical support indexes.
The AEO is a federal programme that is being implemented on a national level, under the supervision of the FCA, and links the country with others, in terms of trade and customs, he added, noting that registered companies may easily introduce their products in markets in other countries that have signed mutual agreements with the programme, including South Korea and Saudi Arabia.