The Gem & Jewellery Export Promotion Council (GJEPC) has taken a significant step towards facilitating international trade operations and boosting the global competitiveness of the jewellery sector by hosting an Outreach Program focused on obtaining Authorized Economic Operator (AEO) status.
This event was organised at the Bharat Diamond Bourse on 18th March 2024, attracting over 120 industry stakeholders interested in understanding the intricacies of AEO certification.
Purpose and Benefits of AEO Status
The event was designed to inform participants about the AEO status, which is recognized globally for its role in promoting secure and efficient trade practices. Among the advantages of obtaining AEO certification are simplified customs procedures, lower inspection rates, and strengthened supply chain security. The initiative sought to equip firms and individuals with the knowledge needed to pursue AEO status.
Expert Insights on AEO Certification
Keynote speaker Shri Amit Choudhary, Deputy Commissioner of the Directorate of International Customs, provided detailed information on how to achieve AEO certification, covering eligibility, documentation, and best practices. He discussed the benefits associated with different AEO tiers, including expedited clearances and reduced costs, applicable to a range of supply chain participants beyond importers and exporters.
Significant Reductions in Clearance Times
A notable point from the event was the significant decrease in container clearance times, from 21 days to just 6 hours, highlighting the Customs department’s focus on expediting AEO shipments. Shri Choudhary, along with Shri Manoj Kumar Agarwal, Additional Assistant Director at the Directorate of International Customs, and Shri Naresh Lathiya, Convener of the MSME Sub-committee at GJEPC, shared insights into the certification process and its impact on trade operations.
Feedback and Future Implications
The program was positively received by the over 120 attendees, who valued the information and networking opportunities provided. This initiative by GJEPC underscores the jewellery sector’s effort towards facilitating international trade and enhancing supply chain security through AEO certification. The focus on educating and guiding stakeholders towards obtaining AEO status reflects a commitment to improving trade efficiency and competitiveness in the global market.
