Cabinet approves Mutual Recognition Arrangement of Authorised Economic Operators with Australia

Prameyanews English

Published By : Prameya News Bureau | August 16, 2023 IST

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Delhi, August 16:The Cabinet chaired by Prime Minister Narendra Modi, has approved the signing and ratification of the Mutual Recognition Arrangement (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 arrangement is aimed at providing reciprocal benefits to accredited and trusted exporters of both the signatories in the clearance of goods by the Customs authorities of the importing country. Mutual recognition of Authorized Economic Operators is a key element of the World Customs Organisation’s SAFE Framework of Standards to secure and facilitate global trade to strengthen end-to-end security of supply chains while providing higher facilitation to trade at the global level. This arrangement shall benefit our exporters to Australia and thereby promote a trade relationship 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 text of the proposed Mutual Recognition Arrangement has been finalized with the concurrence of the Customs Administrations of both the countries.

 

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