IndiPosted at: Apr 28 2021 3:44PM Cabinet nod to agreement with UK on Customs Cooperation
New Delhi, Apr 28 (UNI) The Union Cabinet on Wednesday approved the signing of an agreement between India and the United Kingdom on Customs Cooperation and Mutual Administrative Assistance in Customs Matters.
The agreement will help in the availability of relevant information for the prevention and investigation of Customs offences, an official statement said. The agreement is also expected to facilitate trade and ensure efficient clearance of goods traded between the countries.
It will enter into force from the first day of the month following signature by duly authorised representatives of both the parties.
The agreement would provide a legal framework for sharing of information and intelligence between the Customs authorities of the two countries and help in the proper application of Customs laws, prevention and investigation of Customs offences and the facilitation of legitimate trade.
The draft text of the proposed agreement has been finalised with the concurrence of the two Customs Administrations.
The agreement takes care of Indian Customs' concerns and requirements, particularly in the area of exchange of information on the correctness of the Customs value, tariff classification and origin of the goods traded between the two countries, the statement added.
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