Cabinet approves customs agreement with Uruguay
New Delhi, Jan 4 (IANS) The Union Cabinet, at a meeting chaired by Prime Minister Narendra Modi on Wednesday, approved the signing of an agreement between India and Uruguay for cooperation in matters related to customs.
“The agreement will help in the availability of relevant information for the prevention and investigation of customs offences,” the Finance Ministry said in a statement here.
“It is also expected to facilitate trade and ensure efficient clearance of goods traded between the countries,” it said.
“The draft agreement takes care of India’s concerns and requirements, particularly in the area of exchange of information on the correctness of the customs value declared, the authenticity of certificates of origin of goods and the description of the goods traded between the two countries,” the statement added.
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, besides facilitating legitimate trade.