Uganda Revenue Authority has appointed ten Authorised Economic Operators (AEO) as a away to improve regional trade and economic integration in East Africa.
An AEO is an individual, a business entity or government department that is involved in international trade and is duly authorised by the commissioner of customs to transact business with customs under special arrangements.
Sharing the AEO experience from the business perspective at the Kampala Serena hotel Thursday, Spedag Interfreight and Nice House of plastics said ever since the project rolled out goods in transit from Mombasa to Kampala takes six days unlike before when they would take 12 days.
But today under the AEO their savings on each trip have increased by 50%, Customer satisfaction has improved and hence an increase in revenue.
Trade Mark country director Allen Asiimwe who are the funders for the $ 500 million project said women traders in Kikuubo should be sensitised about the benefits for this new system because on average they import about 100 containers.
Uganda Revenue Authority Commissioner General Allen Kagina said the AEO system is a relief of doing business for the companies that are accreditated where they take their goods and pay later.
She added that under this system Uganda Revenue Authority will not have to its officers at the bonded ware houses and none of the URA staff will lose their jobs.
“An average clearance of 2.5 days in Kampala translates into saving even up to the last consumer hence decrease in prices” she added.
