The Union Cabinet chaired by the Prime Minister
Narendra Modi has given its approval for signing and ratifying an Agreement
between India and Armenia on cooperation and mutual assistance in Customs
The Agreement will be signed on behalf of the two
countries after it is approved by the respective Governments. This Agreement
shall enter into force on the first day of the second month after the
Contracting Parties notify each other through diplomatic channels, that the
necessary national legal requirements for entry into force of this Agreement
have been fulfilled.
The Agreement will help in the availability of
relevant information for the prevention and investigation of Customs Offences.
It is also expected to facilitate trade and ensure efficient clearance of goods
traded between the countries.
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 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.
The Union Cabinet also gave its ex-post facto
approval for the trade Agreement between India and Ethiopia for strengthening
and promoting trade and economic co-operation. The trade Agreement was signed
on 5th October, 2017 during the State visit of the President of India to
Ethiopia from October 4th to 6th
The trade Agreement will replace the existing
trade Agreement signed in 1982. The trade Agreement will provide for all
necessary measures to encourage trade, economic cooperation, investment and