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The Union Cabinet on Wednesday gave its ex-post-facto approval to the signing of agreement between India and the European Community for co-operation and mutual assistance in Customs matters. The Agreement was signed on April 28, 2004. The Agreement will help in the availability of reliable, quick and cost effective information and intelligence for the prevention and investigation of Customs Offences and the apprehension of 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. It has been felt for some time that a proper legal framework should be provided for the sharing of information and intelligence between the Customs authorities of India and the European Community. The information would help in the proper application of Customs laws and also would help in apprehending those against whom it is not easy to obtain evidence.
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