To support its smooth implementation, New Zealand Customs and India’s Central Board of Indirect Taxes and Customs (CBIC) signed a Memorandum of Cooperation on 19 October covering the exchange and verification of origin information.
The Memorandum also supports interim verification arrangements while New Zealand Customs and CBIC continue work on a future electronic exchange process. It does not create new requirements for exporters or importers.
New Zealand Customs Comptroller and Chief Executive Christine Stevenson said the Memorandum reflected the practical partnership supporting implementation of the New Zealand–India FTA.
“This Memorandum is about helping exporters and importers confidently access the benefits of the New Zealand–India Free Trade Agreement from day one. It demonstrates the practical cooperation between New Zealand Customs and CBIC that supports legitimate trade, gives businesses certainty and builds on the strong working relationship between our two administrations.
“It also builds on the strong working relationship between New Zealand Customs and CBIC in facilitating legitimate trade and protecting international supply chains from transnational, serious and organised crime.”
Chairman, Central Board of Indirect Taxes & Customs, Mr. Vivek Chaturvedi said “The Memorandum of Cooperation reflects a forward-looking approach, aligning our bilateral trade facilitation efforts with our commitments in international fora.
“By enabling the advance electronic exchange of origin data, it will strengthen our ability to manage risk effectively, ensure the smooth and predictable movement of legitimate goods, and enhance the overall efficiency of trade between India and New Zealand. Most importantly, it will help ensure that the benefits negotiated under the FTA reach businesses on both sides, swiftly and with certainty.”
Businesses intending to trade under the New Zealand–India Free Trade Agreement should review the official guidance and make sure they understand the agreement's requirements, including Certificates of Origin and tariff preference arrangements. Visit the Ministry of Foreign Affairs and Trade’s NZ-India FTA resource hub.
