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Strengthening Ties: India Approves Key Agreements with Australia

Utkarsh Classes Last Updated 05-02-2024
Strengthening Ties: India Approves Key Agreements with Australia Agreements and MoU 2 min read

The Union Cabinet chaired by the Prime Minister Narendra Modi on 16 August 2023  approved  the signing and ratification of the Mutual Recognition Arrangement (MRA) of Authorised Economic Operators between the Central Board of Indirect taxes and Customs, Department of Revenue, Government of India and the Department of Home Affairs incorporating the Australian Border Force, Australian Government.

The arrangement is aimed at providing reciprocal benefits to accredited and trusted exporters of both the signatories in the clearance of goods by the Customs authorities of the importing country.

Mutual recognition of Authorised Economic Operators is a key element of the World Customs Organisation’s SAFE Framework of Standards to secure and facilitate global trade to strengthen end-to-end security of supply chains while providing higher facilitation to trade at the global level

In another move the Union cabinet also approved the Memorandum of Understanding (MoU) on Cooperation in Sports between the Ministry of Youth Affairs and Sports, Government of India  and the Department of Health and Aged Care of the Government of Australia. 

This MoU will help in expanding knowledge and expertise in the area of sport sciences, technologies and infrastructure; athlete and coach training and development; sports governance and integrity; grassroots participation in sport; major sporting events; diversity and inclusion in sport which would result in improvement in performance of Indian sportspersons in international tournaments and strengthening of bilateral relations between India and Australia.

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