Hamdan launches new economic plan

Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council at Gitex 2016.

Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, on Sunday launched the Authorised Economic Operator (AEO) programme at Gitex 2016.
The AEO programme is a federal plan that connects the UAE with the rest of the world in terms of trade and customs. It recognises traders as trusted operators and provides them with exclusive benefits.
The CEO and Chairman of DP World and Chairman of Ports, Customs and Free Zone Corporation (PCFC) Sultan Ahmed bin Sulayem said the AEO programme has been designed under the supervision of the Federal Customs Authority.
"The pioneering programme delivers a comprehensive set of benefits to certified partners, including faster clearance, preferential customs treatment and a dedicated Key Account Manager."
The AEO programme is set to establish strategic partnerships with other AEO programs around the world through Mutual Recognition Agreements (MRA), he added.
"Operators could include manufacturers, importers, exporters, brokers, carriers, consolidators, intermediaries, ports, airports terminal operators, integrated operators, warehouses and distributors."
Ali Al Kaabi, Head of the Federal Customs authority, said Dubai Customs is a world-class role model in Customs work, particularly when it comes to facilitating trade and plugging security gaps internationally.
"The Authorized Economic Operator programme is a quantum leap in Customs work, as such platform will efficiently serve trade flow in the UAE bringing global and home companies real added value in terms of risk record and security profile."
Noting, he said the UAE, represented by the FCA, has recently signed a Mutual Recognition Agreement (MRA) with South Korea during a federal delegation visit to the country. "This programme is an added value in fact."
Bin Sulayem, said the pilot phase proved to be a huge success as certified AEOs will be able to make inroads into new markets thanks to the Mutual Recognition Agreements. "Gitex is the perfect platform to illustrate the benefits that come out of being a certified AEO to the visitors. The programme will help position the UAE as the number one secure and compliant international trade hub."
Ahmed Mahboob Musabih, Director of Dubai Customs, said the AEO programme will back nationwide integrated efforts towards marking history in Expo 2020. "The new facility provides local and international businesses a strong competitive edge as authorised economic operators (AEOs), which positively impacts on the national economy and increases growth. The programme offers high levels of compliance and safer business environment through effective risk management." - ahmedshaaban@khaleejtimes.com