Kathmandu, Jan 21: Nepal and India have reached an understanding to exchange information on export goods in advance, before the consignments reach their destination.
The Memorandum of Understanding (MoU) on “Cooperation in the Exchange of Pre-Arrival Information of Export of Goods for Trade Facilitation and Customs Control Between Nepal and India” was signed at a ceremony held in New Delhi. The agreement was signed on behalf of Nepal by Director General of the Department of Customs, Shyam Prasad Bhandari, and on behalf of India by Chairperson of the Central Board of Indirect Taxes and Customs (CBIC), Vivek Chaturvedi.
In line with international best practices, major trading partner countries increasingly adopt advance exchange of export data as a risk management tool to facilitate trade. Following this practice, the MoU was jointly drafted by India’s CBIC and Nepal’s Department of Customs with the objective of enabling advance sharing of export-related data between the two countries.
After consultations with relevant stakeholders, the MoU was finalized and subsequently approved by the Government of Nepal (Council of Ministers), which authorized the Director General of the Department of Customs to sign the agreement.
According to the MoU, the two sides will enhance customs control and trade facilitation through risk analysis, reduce the time required for customs procedures, and ensure secure international trade. The agreement provides for electronic exchange of export data within the limits prescribed by national laws, restricts the use of shared information strictly to the purposes outlined in the MoU, and designates contact officers for effective implementation. It also предусматривает a phased implementation, beginning with selected commodities on a pilot basis and gradually extending to all export goods.
The MoU further includes provisions to resolve any disputes arising during implementation through diplomatic channels by mutual consent, and allows amendments through bilateral understanding, according to Ministry of Finance spokesperson Tank Prasad Pandey.
Speaking on the occasion, Director General Bhandari thanked the Indian side for hosting the signing ceremony and stressed the need for swift implementation of the agreement. He said the MoU would further strengthen cooperation between the customs administrations of the two countries, improve risk analysis through advance data exchange, enhance monitoring and regulation of high-risk goods, and facilitate faster and smoother customs clearance for compliant traders.
CBIC Chairperson Vivek Chaturvedi also welcomed the signing of the important MoU with Nepal and expressed India’s full commitment to its prompt and effective implementation. #nepal #india #customs
