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Russia, India customs services sign agreement on mutual recognition

Moscow, May 21 (Prensa Latina) The customs services of Russia and India have signed an agreement on mutual recognition of national institutions of the Authorized Economic Operator (AEO), TVBRICS informed on Tuesday.

According to the message, the document provides new opportunities for introducing a mechanism that provides additional simplifications in terms of customs administration.

Present at the signing ceremony were Ruslan Davydov, First Deputy Director of the Russian Customs Service, and Shri Sanjay Kumar Agarwal, Special Secretary to the Government of India and Chairman of the Central Board of Indirect Taxes and Customs.

During the negotiations, the parties also exchanged views on other topical issues of customs cooperation.

These are the organization of electronic exchange of information on goods and vehicles, training of customs personnel, law enforcement, and customs cooperation in the BRICS format.

An Authorized Economic Operator is a legal entity with a special status. This status is usually given to large manufacturing or trading companies to make importing products or raw materials more comfortable and faster.