Finance Committee accepts Serbia-Albania agreement on recognition of security certificates

AEO

The Parliamentary Committee on Finance today accepted the agreement between the governments of Serbia and Albania on mutual recognition of security and safety certificates issued by the customs services of the two countries to trusted economic entities that will bring multiple business benefits, as previously agreed in Tirana.

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The agreement on mutual recognition of "AEO S" approval was signed by the leaders of the two states on December 21 in Tirana, and after the green light of the committee, it will be in the Assembly of Serbia, where it will be confirmed as law.

As explained, "AEO S" status is granted by the Serbian Customs Administration to economic entities that meet special security and safety requirements, so the customs service believes that they are reliable partners.

There are currently 37 business entities in the "AEO S" status in Serbia, and the agreement with Albania enables them to use the privileges acquired through the trust of customs with the customs authorities of Albania.

Thanks to the reciprocity, economic entities from Albania will be able to use the benefits in that status in procedures before Serbian customs authorities.

Companies with "AEO S" status enjoy expedited procedures, reduced formalities before the customs authorities and lower costs of that procedure.

Mutual recognition of "AEO S" status, it has been assessed, brings multiple benefits to the business community.

Such companies submit documentation with a smaller set of data to the customs authorities, have priority in the review process if they are selected for control, and may require that customs control be performed elsewhere than the place set by the customs authority.

(Telegraf.rs)