2 days ago

India, MERCOSUR Sign Protocol for Electronic Origin Certificates

India, MERCOSUR Sign Protocol for Electronic Origin Certificates
India, MERCOSUR ink first additional protocol to facilitate electronic certificates of origin · thehindubusinessline.com

India and the MERCOSUR countries made a new agreement about trade documents.

The agreement allows businesses to use electronic Certificates of Origin instead of paper ones.

These certificates show where traded goods come from.

The digital certificates will have the same legal value as paper certificates.

Authorized officials must create and electronically sign them under local laws.

This change is intended to make customs work faster and easier.

It may also reduce paperwork and business costs.

The agreement will begin after the countries complete their required approval processes.

Key facts

Agreement
First Additional Protocol to the India–MERCOSUR Preferential Trade Agreement
Main change
Electronic Certificates of Origin will have the same legal validity and value as paper certificates.
Rules updated
Article 16 of Annex III, which governs Rules of Origin.
India’s concessions
Preferential tariff concessions on 450 tariff lines.
MERCOSUR concessions
Tariff concessions on 452 tariff lines.
Original agreement
Signed January 25, 2004, and entered into force June 1, 2009.
Entry into force
Pending domestic ratification procedures and exchanges of legal notifications.

Quotes

India–MERCOSUR First Additional Protocol

Trade protocol governing electronic Certificates of Origin between India and MERCOSUR.

“such electronic Certificates of Origin will be required to be issued and electronically signed in accordance with the respective domestic legislation of the Parties, by duly authorised entities and officials.”
thehindubusinessline.com
“Certificates of Origin issued in electronic format shall have the same legal validity and identical value as Certificates of Origin issued in paper format.”
thehindubusinessline.com

Sources

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