Lower risk with import cert

DUBLIN:Tighter European Unions regulations on imports are due to come into force over the coming years in response to the increased terrorist threat.

With this in mind, the EU has recently launched the Authorised Economic Operator (AEO) certification which is designed to allow companies voluntarialy achieve a level of supply chain security in return for a lower burden of checks and regulation from customs and revenue.

Damian McCarthy, who deals with customs and international trade for PricewaterhouseCoopers, says although the certification is starting on a voluntary basis "it will in time become a must-have".

"An AEO-approved company would have a lower risk-profile with customs and, as a result, likelihood of your consignment being investigated under these new criteria is lower than if you are not approved."

To join the scheme, companies have to certify that their internal risk management, audit and supply chain management are adequate. McCarthy says the scheme has particular attraction for companies dealing with high-speed or perishable goods.

The system is being run by customs and revenue officals in EU states and in time it is planned that a public database of AEO companies will be developed.

AEO comes into force on January 1st next year. No Irish-based companies have yet been accredited, although a number of trials have been held to evaluate the system for Irish firms.

"There are a lot of companies are at the consideration stage," says McCarthy. Further information on AEO is available at: www.revenue.ie.