India and UAE signed a bilateral agreement on Mutual Assistance in Customs Matters today in Dubai. The agreement was signed by Chairman, Central Board of Excise and Customs (CBEC), S K Goel and the Acting DG of UAE Federal Customs Authority (FCA), Khaled Ali Al Bustani. Ambassador Mr. M K Lokesh and Consul General Mr. Sanjay Verma were present on the occasion.
The Agreement provides for sharing of best customs practices and it will also curb the violation of customs laws and protect against illicit commercial practices, by exchanging critical information on a regular basis.
The Chairman of CBEC, Mr. S. K. Goel, said that the agreement will go a long way in promoting the legitimate trade ties between India and UAE. Ambassador, Mr. M. K. Lokesh underlined the fact that India was the largest trade partner of the UAE and that this agreement will further bilateral commercial ties.
FCA’s Acting DG, Khaled Ali Al Bustani added that this agreement will, encourage cooperation and promote trade through the exchange of information and expertise between the two countries.