Govt approves agreement between India and UK on cooperation & assistance in custom matters
New Delhi, Apr 28 (KNN) The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday gave its approval for 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.
According to an official statement, the Agreement will be further signed on behalf of the Indian Government and UK Government after it is approved by the respective governments.
''The agreement on the cooperation and administrative assistance in the customs matters between India and the United Kingdom will come into force from the first day of the month after the signature by the duly authorized representative of both countries,'' the statement said.
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.
The Agreement also 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 finalized 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, it said.