India–MERCOSUR Protocol Gives e-Certificates of Origin Validity
Why in the news
India and the MERCOSUR bloc added a protocol to their trade pact so that trade paperwork can move online.
Key facts
- Instrument: First Additional Protocol to the India-MERCOSUR Preferential Trade Agreement (PTA).
- Core provision: electronic Certificates of Origin (e-CoO) are legally equal to paper certificates.
- Condition: they must be issued and electronically signed by authorised entities.
Significance
- Modernises customs procedures.
- Simplifies preferential trade between the parties.
Other areas covered
- Cooperation in the digital space, including AI.
- High-Performance Computing.
- Taxation.
Exam angle
- Meaning of e-CoO and PTA.
- Which trade pact was amended: India-MERCOSUR PTA.