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FinancialNews
01-10-18
UAE, S. Korea customs agreement goes into effect
(MENAFN) The UAE and South Korea were declared to have implemented their customs agreement, easing their bilateral trade relations.
The Authorized Economic Operator (AEO) agreement and Mutual Recognition Arrangement (MRA) between the UAE and South Korea is now effective, as confirmed the Korea Customs Service (KCS).
The two countries have entered talks in December of 2015 for reach the customs pact before it was finally secured.
Under the deal, the two sides are entitled to rapidly clear goods from each other and set the high priority in customs processing, along with forming contact points to handle challenges with an authorization.
MENAFN0110201800450000ID1097511388
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