Launched: Common Digital Platform for CoO
Platform for 15 FTAs-PTAs
Platform for 15 FTAs-PTAs
The Common Digital Platform for Issuance of electronic Certificates of Origin (CoO) will be a single access point for all exporters, for all FTAs/PTAs and for all agencies concerned.
Certificate of Origin will be issued electronically which can be in paperless format if agreed to by the partner countries, said the Commerce and Industry Ministry on 16 Sept 2019.
Authorities of partner countries will be able to verify the authenticity of certificates from the website. Further, it provides administrative access to Department of Commerce for reporting and monitoring purposes.
Commerce and Industry and Railways, Piyush Goyal and Minister of State for Commerce and Industry, Hardeep Singh Puri, launched the platform in New Delhi on 16 Sept 2019.
Exporters may register on this platform and apply for CoOs to any of the designated agencies.
The platform will be made live for FTAs in a phased manner as per the concurrence of the concerned partner countries.
Various territorial divisions have already informed their partner countries. It will start with the India-Chile PTA.
Further, once the partner countries agree to an electronic data exchange, the CoOs will be electronically sent to the Customs of the partner countries.
After this, there will not be any need for physical CoO copy, saving transaction cost and time for the Indian exporters.
India has 15 Free Trade Agreements (FTAs)/Preferential Trade Agreements (PTAs) with various partner countries under which Indian exporters avail reduced import tariffs in the destination country.
In order to avail this benefit, the exporters must provide a preferential CoO.
About 7 lakh certificates are issued annually by designated agencies.
These verticals certify that exported goods are made in India. These certificates are issued by designated agencies in India after vetting of the rules of origin criteria as per the respective FTA/PTA.
Some designated agencies for CoO issuance are EIC, Directorate General of Foreign Trade (DGFT), Marine Products Export Development Authority (MPEDA), Textile Committee and Tobacco Board.
At present preferential Certificate of Origin is issued from the various notified agencies around the country through manual processes.
A new common digital platform for issuance of electronic preferential CoOs has been conceptualized to address various challenges in the current process.
The platform has been designed and developed by DGFT and Regional & Multilateral Trade Relations (RMTR) Division, Department of Commerce, Commerce and Industry Ministry. fiinews.com