A delegation of Korea Customs led by Mr Yongsuk Hur, Commissioner is currently on a two-day visit in New Delhi to hold the First Customs Cooperation Meeting with a delegation of officers of the Central Board of Excise and Customs led by Shri P.C. Jha, Chairman. This meeting would go a long way in trade facilitation by way of speedy clearance of goods while collecting the correct amount of customs duty, given the rapid growth in the volume of merchandise trade between India and Korea.

During the meeting today both the sides agreed to promote information exchange and other customs cooperation activities by implementing the Agreement on Cooperation and Mutual Assistance signed by the two Customs Administrations in February, 2006. The two sides also agreed to launch a pilot project on Customs Data Exchange between the two countries. Customs cooperation: pilot customs data exchange to enhance information sharing and expedite legitimate trade clearance. Customs cooperation focuses on enhancing cross-border information sharing and operational coordination to expedite legitimate trade clearance while ensuring accurate duty assessment. The administrations agreed to implement the Agreement on Cooperation and Mutual Assistance concluded in February 2006 and to launch a pilot project on Customs Data Exchange to test practical data-sharing arrangements and technical interoperability between the administrations.