EC Unveils Strategy for Customs Risk Management and Supply Chain Security
The current customs system to deal with risks at EU borders doesn't uniformly address security and safety risks across the external border, the European Commission said Tuesday. It approved a strategy for customs risk management and the security of the…
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supply chain intended to enable customs authorities to better tackle the risks associated with goods traded in international supply chains. The EC proposed several actions: (1) Traders should make quality data available at the right time, in the right place for effective risk management. (2) There must be deeper engagement with companies moving goods across borders. (3) Risk management must be implemented uniformly throughout the EU external borders. (4) More structure and systematic cooperation between customs and other authorities is needed. (5) There should be better international cooperation with the EU's main trading partners. EU external trade grew by around 50 percent from 2004-2010, the EC said. While most of that trade is legal, illicit trade is estimated at nearly 10 percent of the global economy. With global trading on the rise, “the challenge to stop a bomb, contaminated good or smuggled goods is becoming increasingly complex.”