Breaking News: AEO Mutual Recognition Agreement signed between Switzerland and UK to ease trade for companies

The Swiss government has approved an agreement with Britain on mutual recognition of companies with “AEO” customs security approval, designed to facilitate trade.

This agreement is “intended to reduce technical barriers to trade and facilitate trade with the United Kingdom for companies with AEO status”, according to a government press release on Wednesday. The accord has yet to be ratified by Britain.

Authorised Economic Operator (AEO) status for approved companies was introduced as part of international measures to increase customs security after the terrorist attacks of September 11, 2001. Companies with AEO status are “considered particularly trustworthy, which is why they enjoy privileges with respect to security-related customs controls and can take advantage of customs clearance simplifications”, says the government press release.

You can read the article here: Government approves accord with UK to ease trade for companies