The Cabinet chaired by Prime Minister Shri Narendra Modi, has approved the signing and ratification of the Mutual Recognition Agreement (MRA) between the Central Board of Indirect Taxation and Customs (CBIC), the Department of Revenue, the Government of India and the Department of Home Affairs incorporating the Australian Border Force, Government of Australia.
The agreement is intended to provide mutual benefits to accredited and trusted exporters of both 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 Organization’s SAFE rules framework to secure and facilitate global trade to strengthen the end-to-end security of supply chains while providing enhanced trade facilitation globally. This agreement will benefit our exporters in Australia and thus promote a trading relationship between the two countries.
The mutual recognition of the Australian Trusted Trader Program in Australia and the Authorized Economic Operator Program in India will take effect from the date of signature by the authorized representatives of both countries. The text of the Mutual Recognition Arrangement proposal was finalized with the cooperation of the Customs Administrations of both countries.
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DS/SK