Govt. approves Mutual Recognition Arrangement of Authorised Economic Operators between India and Australia:

Govt. approves Mutual Recognition Arrangement of Authorised Economic Operators between India and Australia The Cabinet, presided over by Prime Minister Shri Narendra Modi, has approved the signing and ratification of the Mutual Recognition Agreement (MRA) between the Central Board of Indirect Taxes and Customs (CBIC), Department of Revenue, Government of India, and the Department of Home Affairs incorporating the Australian Border Force, Australian Government. The agreement aims to provide reciprocal benefits to licenced and trustworthy exporters of both signatories in the clearance of products by the importing country's Customs authority. Mutual recognition of Authorised Economic Operators is a crucial component of the World Customs Organization's SAFE Framework of Standards to protect and promote global commerce, which aims to increase end-to-end supply chain security while increasing global trade facilitation. This agreement will assist our exporters to Australia while also promoting commerce between the two countries. Mutual Recognition of the Australian Trusted Trader Program in Australia and the Authorized Economic Operator Program in India shall enter into force from the date of signing by the authorized representatives of both the countries. The proposed Mutual Recognition Arrangement wording has been finalised with the approval of both nations' Customs Administrations.