Saudi and Bahraini Customs signed in Riyadh an agreement of mutual recognition of the Authorized Economic Operator Program (AEO), Arab News reported today.
The agreement aims to enhance the security of the supply chain and the advantages of trade facilitation offered by the AEO.
The agreement was signed by the Governor of the Saudi General Customs Authority, Ahmed bin Abdul Aziz Al-Haqbani, and by Sheikh Ahmed bin Hamad Al-Khalifa, president of Bahrain Customs.
“This agreement will enhance intra-trade and overcome obstacles that limit the flexibility of trade exchange, in addition to strengthening and consolidating the principle of partnership between customs and the private sector,” Al-Haqbani said.
He also added that the agreement will contribute to the growth of the volume of trade exchange and support the economy of the two countries.
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