India and the Republic of Peru on December 5, 2018 signed an agreement for co-operation and mutual assistance in customs matters.
The agreement was signed on the sidelines of the 80th Session of the Policy Commission meeting of the World Customs Organisations (WCO) which was held in Mumbai during December 3-5, 2018.
The Agreement was signed by S Ramesh, Chairman of Central Board of Indirect taxes and Customs (CBIC) of India and Rafael Garcia, the National Superintendent of Customs of Peru.
Agreement for co-operation in Customs Matters
• The Agreement provides a legal framework for sharing of information and intelligence between the Customs authorities of the two countries.
• It will help in the proper application of Customs laws, prevention and investigation of Customs offences.
• The Agreement will also help in the availability of relevant information for the prevention and investigation of Customs offences.
• It is expected to facilitate trade and ensure efficient clearance of goods traded between the countries
• India established diplomatic relations with Peru in March 1963. India-Peru relations have since then been traditionally cordial and friendly.
• Since 1987, there has been an increasing economic cooperation between both sides after the visit of the then Peru’s President Alan Garcia to India as the Chief Guest for Republic Day event.
• Later, Indian President K.R. Narayanan visited Peru in April 1998. It was the first ever Presidential level visit from India to Peru.
• India's bilateral trade with Peru was USD 107.32 million during 2005-06 and this grew up to 1319.45 percent during 2015-16.
• During 2015-16, bilateral trade between both sides stood at USD 1523.35 million with exports at USD 703.12 million and imports at USD 820.22 million.
• The Peruvian Community in India is quite small with around two hundred people only. Majority of them reside in Delhi NCR, Haryana, Maharashtra, Uttar Pradesh, Karnataka, and Rajasthan.
• On the other side, Indian Community in Peru is also quite small. Only around 50-60 families are engaged in business, trade and other professions in Peru. India origin organisations like Hare Krishna, Sai Baba and Brahma Kumaris are also present in Peru.