India Speeds Negotiations on Global Trade Agreements

India is actively negotiating mutual recognition agreements with around 30 countries to simplify customs compliance and boost trade. Successful agreements have been made with nations like the US and South Korea. India aims to enhance its Authorised Economic Operator program and improve global trade facilitation.

India is intensifying efforts to secure mutual recognition agreements (MRAs) with customs authorities in about 30 nations, according to Sanjay Kumar Agarwal, chairman of the Central Board of Indirect Taxes and Customs. Such agreements aim to streamline overseas trade by reducing the need for dual certifications, thus cutting compliance costs.

Negotiations have been successfully concluded with key trading partners including the United States, South Korea, and the UAE. The talks are progressing positively with countries like Japan and South Africa, Agarwal announced at the Global Authorised Economic Operator (AEO) Conference.

Agarwal emphasized India's commitment to improving digital and sustainable trade facilitation, evidenced by progress in international indices. The AEO program, fostering collaboration between customs and businesses, stands as a pivotal element in advancing secure and efficient global trade.

(With inputs from agencies.)