The Union Cabinet,
chaired by the Prime Minister Shri Narendra Modi has approved signing
and ratifying an Agreement between India and Uruguay regarding
Cooperation and Mutual Assistance in Customs Matters.
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 draft Agreement takes care of Indian Customs' 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.
Uruguay is an important trading partner of India among members of the
MERCOSUR, a trading block in Latin America. India signed a Preferential
Trade Agreement (PTA) with the MERCOSUR which came into effect from 1st
June, 2009. Trade between India and the Uruguay has been expanding
gradually. 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, 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.