on December 19, Elena Yagodkina, Deputy Head of the Federal Customs Service of Russia, took part in the plenary session of the XIV India-Russia Business Dialogue dedicated to the development of trade and investment partnership between the two countries.
Elena Yagodkina noted that today an open and constructive dialog has been established between the customs services of Russia and India. A number of joint projects aimed at reducing logistical, financial and administrative costs for business are being implemented.
A key initiative remains the work on mutual recognition of the Institute of Authorized Economic Operators (AEO). At the moment, 172 companies with AEO status are operating in Russia, while about 1,200 companies will take part in such projects from India.
«Implementation of the projects «Simplified Customs Corridor» and expansion of agreements on mutual recognition of AEOs will create a customs-friendly regime for direct deliveries between Russian and Indian companies without any restrictions on commodity nomenclature and specifics of foreign trade transactions. In fact, any company having AEO status in our countries can actively participate in this project and enjoy significant advantages in the customs sphere» – noted the Deputy Head of the FCS of Russia.