India and New Zealand Sign MoC to Enable Electronic Origin Data Exchange for Trade

India and New Zealand have signed a Memorandum of Cooperation (MoC) on electronic origin data exchange to facilitate bilateral trade under the India-New Zealand Free Trade Agreement (FTA).

The agreement marks a significant step towards strengthening customs cooperation and making trade between the two countries more efficient.

The MoC was signed on the 19th of this month by Central Board of Indirect Taxes and Customs Chairman Vivek Chaturvedi and New Zealand Customs Service Comptroller and Chief Executive Christine Stevenson.

According to the Ministry of Finance, the agreement reflects the shared commitment of India and New Zealand to use digitalisation and improved information exchange to make cross-border trade more efficient, secure and predictable.

The cooperation framework is expected to deepen coordination between the customs authorities of both countries and support the effective implementation of trade facilitation measures.

The initiative also signals a forward-looking approach to aligning bilateral customs cooperation with evolving international practices in digitalisation, information sharing and trade facilitation.

The electronic exchange of origin data is expected to improve operational efficiency, address information gaps and give traders greater certainty when conducting business between the two countries.

The arrangement will also support the effective use of trade preferences available under the India-New Zealand Free Trade Agreement. It is expected to help ensure that eligible businesses in both countries can access the benefits negotiated under the agreement more efficiently and with greater certainty.