In a new Lowy Institute Analysis launched today, Nicholas Humphries, the Australian Customs and Border Protection Service Fellow at the Lowy Institute, examines how Customs can increase Australia's trade competitiveness at a time when goods and services are increasingly produced across borders in so-called 'global value chains'.
The Analysis argues that to harness the opportunities of a changing global trading environment, Customs must develop an Authorised Economic Operator (AEO) program. AEO programs are currently being established around the world as a means of rewarding low-risk traders with secure supply chains. Humphries argues that an AEO program will enable Customs to help Australian industry exploit new global trading opportunities, while still providing the Australian community with border protection services.
'Without an AEO program, Australia is at a severe competitive disadvantage', argues report author Nicholas Humphries.
The Analysis can be downloaded from the Lowy Institute website. It was written as a part of the Australian Customs and Border Protection Service Fellowship at the Lowy Institute.
Image courtesy of the Australian Customs and Border Protection Service.