May
08
2012
By ielr
Link:
In an agreement signed in Washington, D.C., on May 4, 2012, the U.S. and EU agreed to recognize each other's safe traders. Thousands of companies which enjoy status as Authorized Economic Operators will now have their benefits recognized in both economic trade zones. These companies are noted for providing high security and safety standards, which allows them to clear customs easier than other companies. The deal will lower costs and simplify customs processes in both countries for companies that meet the safety standards.