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Piraeus Port Authority Obtains Authorized Economic Operator License

Piraeus Port Authority obtains authorized economic operator license

Source: COSCO Shipping Ports Ltd
Piraeus, Greece (PortSEurope) October 15, 2020 – Piraeus Port Authority (PPA) has reported that it has obtained from the Independent Public Revenue Authority, the Authorized Economic Operator License (AEOF), at the highest level of the Institution “Customs Simplifications / Security & Protection”. The institution of the Authorized Economic Operator (AEO), which has entered into force under the provisions of the Union Customs Code for all
member states of the European Union, aims to facilitate healthy trade and enhance the security of international supply chain. The AEO status by the economic operator (economic operator: any entity which, in the course of its business activity, is involved in activities subject to customs legislation) presupposes the strict observance of certain criteria of compliance with tax and customs legislation, the reliability of the software and its information systems, the completeness and correctness of its internal operating procedures, its ability to meet its financial obligations and to have adopted and implemented security and protection measures within its business but also in relation to its business partners. AEO holders enjoy significant benefits, which include their easier or more immediate access to customs simplifications, faster processing of their customs transactions, immediate release of financial resources through the reduction of guarantees in the context of the use of specific customs regimes and procedures and their international recognition through the mutual AEO recognition agreements concluded by the European Union with third countries, as well as their international credibility, through the right to use the AEO logo. Piraeus Port Authority is operated by China’s COSCO Shipping Ports Limited. Copyright (C) PortSEurope. All Rights Reserved. 2020.

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