India-Korea Electronic Origin Data Exchange System

  • Launched by Mr. Sanjay Kumar Agarwal, Chairman, Central Board of Indirect Taxes & Customs (CBIC) in the presence of Mr. KO Kwang Hyo, Commissioner of Korea Customs Service (KCS).

EODES:

  • Aimed at facilitating the smooth implementation of the India- Korea Comprehensive Economic Partnership Agreement (CEPA).
  • By way of electronic exchange of origin information between the two customs administrations in respect of the goods traded under the CEPA.
  • The data fields in a Certificate of Origin (CoO) shall be electronically shared by the exporting customs administration with the importing customs, as soon as the certificate is issued.
  • Would facilitate faster clearance of imported goods.
Posted in Current Affairs.