Blog 10 min reading
On Friday (16 September), the IRS signed a Mutual Recognition Agreement (MRA) with the US Customs department to partner officially licensed economic operator projects. The signing event took place in Washington, D.C., USA and concluded a long road of negotiations with the technical teams, the Brazilian Tax Secretariat and the US Customs and Border Protection Service that began in 2015, with the signing of the Joint Work Plan.
Mutual Recognition Agreements (MRAs) are bilateral or multilateral agreements entered into by the customs authorities of countries that have reciprocally compatible AEO programmes, with the aim of promoting trade facilitation.
With the signing of the Brazil-US agreement, the Brazilian AEO programme becomes compatible with the Customs Trade Partnership Against Terrorism (C-TPAT), one of the largest supply chain security certification programmes in the world.
Thus, Brazilian companies certified by OAS-Security will be recognised as safer and less risky companies and, due to this greater reliability, in addition to the advantages that Brazilian customs already enjoys, there will be a reduction in the percentage of inspections of Brazilian exports in the United States and priority checking when these cargoes are selected for review.
The United States, which accounts for more than 14 % of the country's exports, is Brazil's second largest trading partner, accounting for more than US$ 70.5 billion of the value traded in 2021. In the last three years, companies that are part of the OAS programme have already accounted for 17% of exports to the United States, and the signing of the agreement should increase the demand for OAS-Security certification among Brazilian companies.
The Authorised Economic Operator certification issued by the Brazilian Federal Revenue Service guarantees unique benefits when importing and exporting cargo by air, sea and road. Reducing costs and speeding up customs processes are two of the main benefits of the programme, which aims to increase companies' trust in the Brazilian Federal Revenue Service.
Authorised Economic Operator status also guarantees a direct channel with the Brazilian Federal Revenue Service, streamlining all your processes with customs worldwide and guaranteeing the maximisation of your production.
The Oporto Forte Group is a pioneer in AEO Certification Consultancy and Auditing, helping companies to become certified with the Brazilian Federal Revenue Service and eliminating flaws in the certification process. Our highly prepared team, with information, technical knowledge and a wide network of contacts, is waiting for importers, exporters and carriers to ensure that profits are maximised.
Being an Authorised Economic Operator is not just about having a certification, it's about seeing your company reduce costs in practice with greater agility in your customs processes. You're not going to stand still, are you? Then visit our AEO Certification page now and find out more!