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Push for quick rollout of US, UAE deals to boost exports
Mint Mumbai
|July 31, 2023
Planned move to boost authorized economic operators comes amid falling Indian exports
The government is moving fast to operationalize two deals signed with the US and the UAE for making trade easier and also to boost the number of exporters and allied service providers who can benefit from them, according to two officials.
The move involves giving full effect to the mutual recognition of a key trade facilitation scheme for authorized economic operators (AEOs) in India and their equivalent in the two partner-countries and to expand the coverage of beneficiaries. The mutual recognition agreements (MRAs) signed with the US and the UAE are being run on a pilot basis.
An AEO tag is given to trusted merchants and other entities involved in international trade. So far, India has given the status of AEO to around 5,680 importers, exporters, logistics providers, custom brokers and warehouse operators who are compliant with supply chain standards and security norms.
This story is from the July 31, 2023 edition of Mint Mumbai.
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