India, Brazil-led bloc Mercosur ink pact to accept electronic Certificates of Origin
The protocol gives electronic certificates the same legal validity as paper documents and is expected to cut transaction costs and processing time, officials said.
- On Monday, India and Mercosur signed a protocol to accept electronic Certificates of Origin, advancing paperless trade and modernizing customs procedures between the two sides.
- This protocol updates the India-Mercosur Preferential Trade Agreement, effective since June 1, 2009, which provides tariff concessions on 450 product categories for India and 452 for Mercosur.
- Electronic Certificates of Origin now hold "the same legal validity and identical value" as paper versions, reducing transaction costs and processing time for trade verification.
- Commerce Secretary Rajesh Agarwal, Ambassador Alberto Guani, and Ambassador Fleming Raul Duarte Ramos signed the document; it takes effect upon completion of internal procedures and mutual notification.
- By enabling digital documentation, the agreement strengthens economic cooperation between India and the five-nation Mercosur bloc comprising Brazil, Argentina, Bolivia, Uruguay, and Paraguay.
16 Articles
16 Articles
India, MERCOSUR ink first additional protocol to facilitate electronic certificates of origin - The Tribune
India and the MERCOSUR bloc signed the First Additional Protocol to the India–MERCOSUR Preferential Trade Agreement to facilitate the acceptance of electronic Certificates of Origin, establishing a framework to streamline customs operations and implement paperless documentation between both jurisdictions.
aninews.in
India, MERCOSUR ink first additional protocol to facilitate electronic certificates of origin
India and the MERCOSUR bloc signed the First Additional Protocol to the India–MERCOSUR Preferential Trade Agreement to facilitate the acceptance of electronic Certificates of Origin, establishing a framework to streamline customs operations and implement paperless documentation between both jurisdictions.
The Economic Times
India, Brazil-led bloc Mercosur ink pact to accept electronic Certificates of Origin
India and Mercosur have agreed to accept electronic Certificates of Origin. This move facilitates paperless trade and modernizes customs procedures between the two sides. The agreement allows electronic certificates to hold the same legal validity as paper documents. It is expected to reduce transaction costs and processing times significantly. The protocol will become effective after internal procedures are completed by all parties.
India, MERCOSUR sign protocol for paperless trade, electronic certificates
The protocol gives electronically issued Certificates of Origin the same legal validity as paper certificates, potentially reducing paperwork, processing time and transaction costs for exporters and importers.
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