The customs services of Russia and India have signed an agreement on mutual recognition of national institutions of the Authorised Economic Operator (AEO). This was reported by the press service of the Russian Federal Customs Service (FCS).

The signing was attended by Ruslan Davydov, First Deputy Head of the FCS of Russia, and Shri Sanjay Kumar Agarwal Chairman, Central Board of Indirect Taxes & Customs and Special Secretary to the Government of India.

An Authorised Economic Operator is a legal entity with a special status. This status is usually given to large manufacturing or trading companies to make importing products or raw materials easier and faster.

The concept of Authorised Economic Operators was developed in the World Customs Organisation’s Framework of Standards to Secure and Facilitate Global Trade.

During the negotiations, the parties also exchanged views on other topical issues of co-operation in the customs sphere. These are the organisation of electronic exchange of information on goods and vehicles, training of customs personnel, law enforcement as well as customs cooperation in the BRICS format.

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