Cabinet approves India-UK deal on information sharing, Customs cooperation

NEW DELHI : The Union Cabinet on Wednesday approved the signing of a deal between India and the United Kingdom on information sharing and preventing Customs offences.

The agreement is also expected to facilitate trade and ensure clearance of goods traded between the countries, an official statement said.

The deal will be signed on behalf of the governments of the two countries after it is approved by the respective governments. “This Agreement shall enter into force from the first day of the month following signature by duly authorised representatives of both parties,” it said.

The agreement will provide a legal framework for sharing of information and intelligence between the Customs authorities of India and the UK 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 said.

Source : Business Standard