India Pushes For Global Unity, Safe Exports; Signs Key Pact With 30 Nations - Details

New Delhi: The Central Board of Indirect Taxes and Customs Chairman Sanjay Kumar Agarwal on Thursday said that India is actively pursuing negotiations to sign off mutual recognition agreements (MRAs) with the customs authorities of around 30 countries.

What Are Mutual Recognition Agreements or MRAs?

Mutual recognition agreements help in making overseas trade easy by avoiding dual certifications. They reduce compliance cost and simplify compliance requirements by adhering to only one regulation thereby enhancing trade opportunities.

What Role Is India Playing To Ensure Easier Trade?

To broaden and deepen the Authorise Economic Operator (AEO) program, India is proactively engaging with its trading partners.

Which Countries Has India Signed MRAs With?

Currently India has signed MRAs with important trading partners including the US, South Korea, UAE, Taiwan, Australia and Malaysia.

"Negotiations are ongoing with over 30 countries with promising progress and discussions with Japan and South Africa," said Sanjay Kumar Agarwal, CBIC Chairman, at the Global Authorised Economic Operator (AEO) Conference at the national capital.

How Does The AEO Programme Help?

This programme enables customs administration to identify safe and compliant exporters and provides them better facilitation.

The Chairman also added that India continues to demonstrate its commitment to digital and sustainable trade facilitation, as is seen in improved performance in the United Nations Economic and Social Commission Asia Pacific's Global Survey on Digital and Sustainable Trade Facilitation.

India has also shown considerable improvement in the World Bank's Logistics Performance Index, he added.

He further added that the coming together of the global fraternity is extremely crucial to foster trust in the era of an increasingly connected world.

The AEO programme symbolises partnership between customs and businesses and is central to this vision, he said, adding that it is built on mutual respect and a common goal of secure and efficient trade. 

(With PTI inputs)