India is enhancing its global trade facilitation efforts by negotiating Mutual Recognition Agreements (MRAs) with customs authorities in about 30 countries, announced Sanjay Kumar Agarwal, Chairman of the Central Board of Indirect Taxes and Customs. These MRAs reduce compliance costs by removing dual certifications and simplifying regulatory procedures, ultimately fostering more seamless trade opportunities.
India has already established MRAs with significant trade partners, including the US, South Korea, the UAE, Taiwan, Australia, and Malaysia. Discussions are also progressing with Japan and South Africa. These agreements bolster the Authorised Economic Operator (AEO) program, which streamlines trade by recognizing exporters and importers who meet high standards of security and compliance.
Highlighting India’s commitment to digital and sustainable trade, Agarwal noted improvements in India’s rankings on the UN ESCAP’s Global Survey on Digital and Sustainable Trade Facilitation and the World Bank’s Logistics Performance Index. Speaking at the Global AEO Conference, he stressed the importance of global cooperation and the role of the AEO program in fostering secure, efficient international trade partnerships.
