Central Government has recently extended Authorised Economic Operator (AEO) status to the gem and jewellery sector, overseen by the Gem & Jewellery Export Promotion Council (GJEPC), which is the apex body of the sector.
About the Authorised Economic Operator (AEO) Status:
- The AEO status is part of the World Customs Organisation (WCO) SAFE Framework of Standards to enhance international supply chain security and facilitate the movement of legitimate goods.
- This status aligns with India’s commitments under the World Trade Organisation (WTO) Trade Facilitation Agreement (TFA).
- It was first introduced as a pilot project in 2011 in India as part of a framework for ease of doing business.
- The AEO status enables Indian Customs to enhance and streamline cargo security through cooperation with the principal stakeholders of the international supply chain, such as importers and exporters.
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