Date:15/10/2004 URL: http://www.thehindubusinessline.com/2004/10/15/stories/2004101502650600.htm

Back Customs pact with EU cleared

Our Bureau

New Delhi , Oct 14

THE Union Cabinet on Wednesday gave its ex post facto approval to the signing of the agreement between India and the European Community for cooperation and mutual assistance in customs matters.

The agreement, which was signed on April 28, will help in the availability of reliable, quick and cost effective information and intelligence for the prevention and investigation of customs offences.

It would also help in apprehending customs offenders.

The European Community is the largest trading partner of India.

Over the years, the trade between India and the European Community has also increased.

Considering the friendly relations between India and the member countries of the European Community, it was felt that operations in breach of customs legislation are prejudicial to the economic, fiscal and commercial interests of both the parties and there is need for credible information.