Cabinet okays India-Philippines Pact for Customs Cooperation
By TIOL News Service
NEW DELHI, NOV 22, 2017: UNION Cabinet today gave its nod for signing and ratifying of an agreement between India-Philippines on co-operation and mutual assistance in Customs matters.
The agreement would provide a legal framework for sharing of information and intelligence between the Customs authorities of the two countries. It will also help in the availability of relevant information for the prevention and investigation of Customs offences.
This agreement shall enter into force after the necessary national legal requirements for entry into force of this agreement have been fulfilled by both the countries. It would 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 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 and authenticity of certificates of origin of the goods traded between the two countries.
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