MSMEs’ import, export compliance eased
- IBJ Bureau
- Jan 08, 2021
The Central Board of Indirect Taxation and Customs (CBIC) has eased Customs compliance and security requirements for accreditation of micro, small and medium enterprises (MSMEs) under the Authorised Economic Operator (AEO) programme. The new measure is aimed at promoting ease of doing business among MSMEs engaged in imports and exports. The AEO is a voluntary programme under the aegis of the World Customs Organization’s (WCO) SAFE Framework of Standards that aims to secure and facilitate global trade by enhancing international supply chain security and facilitating movement of goods. The programme enables Indian Customs to enhance and streamline cargo security through close cooperation with principle stakeholders of international supply chain, such as importers, exporters, logistics providers, custodians or terminal operators, custom brokers and warehouse operators.