EU Ups Customs Risk Management Strategy

EU Ups Customs Risk Management Strategy
Algirdas Šemeta, EU Commissioner for Taxation, Customs, Statistics, Audit and Anti-Fraud

The European Commission adopted a new strategy and detailed action plan to improve customs risk management on August 21.The new strategy is intended to supervise and identify supply chain risks, and key priorities where action is needed in order to achieve more effective and efficient EU-wide customs risk management.

Each priority in turn is developed in the action plan, in terms of actions to be taken and deliverables to be achieved.

Furthermore, the strategy seeks to ensure that customs is more coherent, efficient and cost effective in a way that reflects today’s realities.

The action plan sets out specific measures to achieve this, together with the actors responsible and clear deadlines for doing so.

The main priorities in the strategy and action plan for improving customs risk management are:

  • Efficient controls and risk-mitigation;
  • Data quality (IT systems for processing entry summary declarations);
  • Information sharing;
  • Interagency cooperation;
  • Cooperation with traders;
  • Capacity building; and
  • International customs cooperation.

Algirdas Šemeta, Commissioner responsible for Customs, said: “Customs holds the key to smooth trade and safe trade.

With 300 million declarations to process and € 3.5 trillion ( USD 4.61 tn) worth of trade in goods to supervise every year, EU customs need to optimise their use of resources, without compromising security or disrupting legal trade.

Robust risk management allows customs to identify where, when and how their controls are best deployed, and to respond effectively when threats do arise.”

Press Release; August 25, 2014