BRUSSELS: The European Union adopted a strategy and action plan to tackle customs risk and strengthen supply chain security.
The strategy is designed to assist EU customs authorities to receive timely data and encourage systematic cooperation between customs and other agencies.
“This marks an important step towards more effective and cost-efficient system risk management for EU customs,” said Pierre Moscovici, European Commissioner for Economic and Financial Affairs, Taxation and Customs.
“EU customs plays a vital role in managing risks in the international supply chain, with over 300 million declarations to process and 3.5 trillion euros (4.33 trillion U.S. dollars) worth of trade in goods to supervise,” he added.
