Yusen Logistics subsidiary in Malaysia, TASCO Berhad has been certified as AEO for the category of forwarder and warehouse operator by Royal Malaysian Customs Department (RMCD) on July 14, 2021.
With this certification, TASCO Berhad is now able to offer many benefits to its selected customers. These include priority, fast customs clearance, lower rate physical inspection of imported or exported goods, faster released of shipments, and as well as enhanced security and improved risk mitigation.
The AEO status will allow TASCO Berhad enjoy the fast, simple and efficient customs clearance and shipment handling for the import or export shipments from or to the countries who already have MRA (Mutual Recognition Arrangements) agreements with Malaysia. So far, Malaysia already signed MRA agreement with Japan, Hong Kong and South Korea. Malaysian Customs is in the midst of finalising the MRA negotiation with a few more countries.
TASCO Berhad is said to be the first global logistics company to certify as an AEO in Malaysia. The incentives for AEO certification to logistics companies such as TASCO Berhad were announced in Malaysian Budget 2021 on November 06, 2020.
Malaysian Finance Minister Tengku Zafrul during the country’s Budget 2021 announced that the government would implement the AEO Program at the national level encompassing goods that are subjected to license or permit issued by 43 Regulatory Authority Other Government Agencies and Permit Issuance Agencies.
The AEO programme was introduced by the World Customs Organisation (WCO) since 2005 and had been implemented by the RMCD since 2010. AEO is an operator who has obtained approval from or on behalf of Customs after being confirmed to be compliant with the supply chain safety standards under WCO SAFE Framework.
The AEO certification secures and facilitates global trade which covers manufacturers, exporters, brokers, carriers, consolidators, and intermediaries.