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The Simplification of Customs Formalities: The Role of the Authorized Economic Operator (AEO) in Vietnam and in the EU

In: Emerging Markets

Author

Listed:
  • Alessandro Torello

Abstract

Customs clearance operations of goods can be facilitated if importers, forwarders, or logistics operators have obtained the status of Authorized Economic Operator (AEO). The simplification of customs formalities, as well as a lower number of document-based customs controls and of physical inspections, speed up the international trade flows and reduce the delivery time of goods. The World Customs Organization (WCO) has promoted the implementation of standardized procedures since 1970s. On this matter, the WCO adopted the Kyoto Convention in 1974 and the Revised Kyoto Convention (RKC) in 1999. The article analyzes the role of the AEO status in Vietnam and in the European Union, and the opportunities of customs cooperation between Vietnam and the European Union, taking into consideration the Free Trade Agreement (EVFTA) which entered into force on August 1, 2020.

Suggested Citation

  • Alessandro Torello, 2021. "The Simplification of Customs Formalities: The Role of the Authorized Economic Operator (AEO) in Vietnam and in the EU," Chapters, in: Vito Bobek & Chee-Heong Quah (ed.), Emerging Markets, IntechOpen.
    • Handle: RePEc:ito:pchaps:218352
    DOI: 10.5772/intechopen.93609
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    More about this item

    Keywords

    AEO; customs; EVFTA; Kyoto Convention; MRA; pre-clearing; RKC; SAFE; Vietnam; WCO;
    All these keywords.

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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