KUALA LUMPUR: The Malaysian International Chamber of Commerce and Industry (MICCI) is collaborating with the Royal Malaysian Customs Department (RMCD) to promote the Authorised Economic Operator (AEO) programme in Malaysia.
This initiative aims to promote security, efficiency, and compliance within the supply chain, benefiting the broader business community, particularly SMEs and companies involved in export and import activities.
The AEO is a concept introduced by the World Customs Organisation (WCO) as part of the WCO SAFE Framework of Standards (SAFE FoS) to secure and facilitate global trade. AEO certification is granted to parties involved in international trade that meet the stringent security and compliance requirements set by global customs administrations under the SAFE FoS and related international standards.
MICCI president, Christina Tee said, “At MICCI, apart from being advocates and representing the voices of the business community, we also proactively look for programmes and certifications that are beneficial for businesses. The AEO programme not only supports our Malaysian businesses in becoming more competitive on a global scale but also reinforces the importance of security and compliance in international trade. By encouraging more SMEs to attain AEO status, we can significantly enhance Malaysia’s standing in the global market, enable SMEs to expand their businesses beyond Malaysian borders, and drive the growth of our export and import sectors.”
“MICCI and RMCD are both committed to fostering a secure and efficient trade environment in Malaysia, ultimately contributing to the nation’s economic growth and global trade integration. 97 countries have implemented this programme and the key benefits that companies with AEO status can enjoy include auto-release of goods, faster clearance, deferred payment of duty and life-time accreditation,” added Tee.
To help support SMEs in getting to know the AEO programme, MICCI Perak conducted a seminar together with Customs at the Camfil Malaysia auditorium recently. This aligns with MICCI’s agenda to continuously advocate Malaysian businesses through comprehensive business initiatives for greater operational efficiency.
For Malaysian businesses engaged in export and import, AEO status offers a competitive edge by providing more reliable and secure supply chain solutions, which can attract global partners and customers. The enhanced supply chain efficiency and security that come with AEO certification facilitate smoother access to new international markets, aiding Malaysian companies in expanding their global footprint.
The streamlined procedures and predictability associated with AEO status can lead to more efficient supply chain operations, reducing lead times and improving service levels. Additionally, reduced customs-related costs and improved logistics efficiency can lead to significant savings, thereby boosting a company’s bottom line.
