The European Union and Switzerland have recently signed a customs security agreement aimed at strengthening their cooperation in the fight against cross-border crime and enhancing the security of their citizens and economies.
The agreement, which came into effect on July 1, 2021, builds on the existing cooperation between the two parties to combat fraud, smuggling, and other illegal activities. It also aims to facilitate the movement of legitimate goods across their borders, enabling businesses in both regions to trade more efficiently and competitively.
Under the new agreement, customs administrations from both sides will exchange information on goods and trade transactions, including risk analysis data and intelligence on potential security threats. They will also collaborate on customs controls and investigations, including the sharing of best practices and training programs.
One of the key benefits of the agreement is the establishment of a mutual recognition arrangement between the EU and Switzerland on their respective Authorized Economic Operator (AEO) programs. AEO status is granted to companies that meet certain criteria relating to customs compliance, security, and financial solvency. By recognizing each other`s AEO programs, the EU and Switzerland will be able to streamline their customs procedures and reduce administrative burdens for trusted traders.
The customs security agreement is part of a broader effort by the EU to enhance its customs cooperation with key trading partners around the world. In recent years, the EU has signed similar agreements with countries such as China, Japan, and the United States, as well as with regional blocs like the Association of Southeast Asian Nations (ASEAN).
Overall, the EU-Switzerland customs security agreement is a significant step forward in strengthening the economic and security ties between these two important trading partners. By working together, they can better protect their citizens and businesses from the risks posed by cross-border crime and promote greater cooperation and integration between their markets.
