CBIC Chairman launches India-Korea Electronic Origin Data Exchange System for Faster Import Clearance

Top Stories CBIC Chairman launches India-Korea Electronic Origin Data Exchange System for Faster Import Clearance CBIC launches India-Korea Electronic Origin Data Exchange System for Faster Import Clearance. Know All Details Here. By Manu Sharma – On December 10, 2023 7:00 am – 2 mins read Chairman of the Central Board of Indirect Taxes & Customs (CBIC), Mr. Sanjay Kumar Agarwal, officially introduced the India-Korea Electronic Origin Data Exchange System (EODES) on December 06, 2023, in New Delhi, alongside Mr. KO Kwang Hyo, Commissioner of Korea Customs Service (KCS), and his delegation.

EODES is a pivotal tool designed to streamline the execution of the India-Korea Comprehensive Economic Partnership Agreement (CEPA) through the electronic sharing of origin information related to goods traded under the agreement. This innovative system enables exporting customs administrations to electronically transmit Certificate of Origin (CoO) data fields to the importing customs promptly upon issuance, facilitating expeditious clearance of imported goods. During the launch event, Mr. Sanjay Kumar Agarwal underscored the significance of Customs collaboration between India and Korea, emphasizing key aspects such as automated data exchange, capacity-building, and enforcement.

He expressed optimism that the success of the EODES project would establish a global benchmark for international Customs cooperation. Mr. KO Kwang Hyo acknowledged the diligent efforts of both teams and anticipated that the system’s operationalization would rejuvenate preferential trade between the two countries. The soft launch of EODES reflects the commitment of both nations to its prompt integration into a live environment. This initiative signifies a major milestone in the growing bilateral relations between India and Korea.

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