The duration of the status of bona fide foreign trade participants in the Customs Union has been extended for Belarus for 1.5 years, Deputy Chairman of the State Customs Committee of Belarus Sergei Borisyuk told media on 17 September.
As of 1 July 2010 there were over 500 bona fide traders in Belarus. The Customs Union’s Customs Code instituted Authorized Economic Operator (AEO) status on 6 July. Thus, the status of bona fide foreign trade participants has been renamed into AEO status. Initially AEOs were expected to deposit ?1 million to confirm their status but later on the sum dropped to ?150,000.
AEO status is not yet in effect because Belarus has been granted a transition period by the Customs Union’s Customs Code. The Authorized Economic Operator status will come into force 18 months later, said Andrei Panin, Deputy Head of the Customs Control Office of the State Customs Control Committee. Meanwhile, national laws regulating the operation of bona fide foreign trade participants will stay in effect in Belarus. Many Belarusian companies are willing to get the status. Every day the Customs receives 2-5 applications for getting the status.
BelTA
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