The Indian Cabinet, chaired by Prime Minister Narendra Modi, has approved the signing and ratification of an agreement between the Government of India and the Government of the United Kingdom on Customs Cooperation and Mutual Administrative Assistance in Customs Matters. The agreement is expected to facilitate trade between the two countries.

"The agreement will help in the availability of relevant information for the prevention and investigation of Customs offences. The agreement is also expected to facilitate trade and ensure efficient clearance of goods traded between the countries," an official statement said.

The agreement will 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 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.

The agreement will be signed on behalf of the Governments of the two countries after it is approved by the respective Governments. It shall enter into force from the first day of the month following signature by duly authorised representative of both parties.

Fibre2Fashion News Desk (RKS)

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