Business

ASEAN Launches Action Plan To Facilitate Regional AEO Customs Clearance

The Association of Southeast Asian Nations (ASEAN) has launched a joint action plan to expedite customs clearance across the region. The ASEAN Authorised Economic Operator – Mutual Recognition Arrangement (AAMRA) will offer a number of benefits to businesses that are AEO validated by any ASEAN nation. Benefits include less documentation and cargo inspection, facilitation of domestics and overseas customs clearance, priority treatment if goods are picked for inspection, and faster customs clearance when there is trade disruption. According to the official statement, all 10 ASEAN member states are expected to sign the AAMRA before the end of 2022. Under the joint action plan they have agreed to fully implement the AAMRA by 2025, with at least three states likely to implement the arrangement as early as by the second half of this year.