The Namibia Revenue Agency (NamRA) on Thursday held an awareness session with private sector stakeholders on the Authorised Economic Operator (AEO) Programme in Namibia.
The voluntary AEO programme is designed by the World Customs Organisation (WCO) as a global standard used by customs administrations, other government agencies and the private sector to strengthen compliance, safety, and security of the supply chain, whilst also building mutual trust and partnerships between government and businesses.
Addressing the meeting, Minister of Industrialisation and Trade Lucia Iipumbu said customs administrations and other government agencies are expected to improve the processing of an increased number of cargo with less reliance on physical intervention and with greater efficiency and speed, without compromising safety and security, revenue collection, and enforcement responsibilities.
To achieve this, it is critical for customs administrations, other government agencies and businesses to collaborate and establish mutually beneficial partnerships, she said.
Iipumbu noted that in the Southern Customs Union (SACU), the AEO is a flagship programme for the Customs Modernisation Programme under the SACU Trade Facilitation and Logistics Programme.
“It is envisaged to support industrialisation and the trade agenda with the African Continental Free Trade Area (AfCFTA) as a priority to enable the region to achieve improved administrative efficiencies through digitisation, automation of data exchange, reduction of time and cost associated with cross-border trade, improved compliance and security of the supply chain and enhanced competitiveness of the SACU Member States,” she said.
Speaking at the same event SACU Secretary General Thabo Khasipe said although SACU has made significant strides in rolling out the accreditation of economic operators, with 174 accredited economic operators under the AEO Compliance Programme, Namibia only has one – Namib Mills.
“I wish to implore our Namibian business community to take advantage of this unique programme and to apply for accreditation to maximise on the identified benefits. The programme will also better position our private sector to be more competitive and help maximise the opportunities accruing from the AfCFTA,” he said.
The trade facilitation benefits AEOs get when registered amongst others include expedited VAT refunds and reduced bond amounts for any security required for compliance with a customs procedure.
Soure: The Namibian Press Agency