CURRENT AFFAIRS FOR UPSC IAS

With the help of the efforts of Gem & Jewellery Export Promotion Council (GJEPC), the gem and jewellery sector has been granted Authorised Economic Operator (AEO) status by the Finance Ministry.

Understanding AEO Status:

• The AEO status is a prestigious designation conferred under the World Customs Organisation (WCO) SAFE Framework of Standards.
• Objective: to secure and expedite global trade operations.
• Introduction: as a pilot project by the Customs department in 2011.
• Alignment with International Commitments: India's AEO Programme aligns with the commitments outlined under Article 7.7 of the World Trade Organization's Trade Facilitation Agreement (TFA).