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Cabinet approves Agreement with Armenia on cooperation in Customs matters

 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 matters.

 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 technical co-operation.

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