Importers and exporters will benefit from a new system put in place by the the Kenya Revenue Authority’s Customs Services Department.

Dubbed ‘Authorized Economic Operators’, it gives operators preferential treatment in the processing of transactions.

According to KRA southern region senior assistant commissioner Fatma Yusuf, players must be compliant with the Kenya Revenue Authority procedures to be enlisted.

Players will benefit from minimal checks of their cargo, lower storage cost due to faster release of cargo and reduced transit time among other benefits.

Speaking during the KRA stakeholders meeting in Mombasa, she urged companies and players in the trade industry to join the AEO.

“The system enhances the relationship between customs and its stakeholders. This is part of fulfilling the world customs organisation framework of standards,” said Yusuf.

“It also fulfils the global best practices of granting special authorization and other privileges to reliable economic operators for faster movement of cargo” she added.

So far, 175 companies in the country have been accredited in the system, according to Yusuf.

She said the system will boost trade not only in Kenya but the entire East and Central Africa region through fast clearing and movement of goods both at the port and border points.

The system creates a blue channeling that sees direct release of cargo when both the importer and clearing agent are enlisted as AEO.

“Transit cargo also benefits in the blue channeling if the importer and clearing agent are accredited ,otherwise goods will be subjected to verification as determined by customs procedures,” said Yussuf.

See more at: https://www.the-star.co.ke/news/2014/06/30/new-customs-system-to-speed-up-cargo-movement_c962000

Source: The Star

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