Inauguration of Electronic Origin Data Exchange System (EODES)
Shri Sanjay Kumar Agarwal, Chairman, Central Board of Indirect Taxes and Customs (CBIC) inaugurated the India-Korea Electronic Origin Data Exchange System (EODES) in New Delhi on December 6, 2023. The ceremony was attended by Mr. Ko Kwang Hyo, Commissioner of the Korea Customs Service (KCS) and his delegation.
Objective of EODES
The Electronic Origin Data Exchange System aims to facilitate seamless implementation of the India-Korea Comprehensive Economic Partnership Agreement (CEPA). It achieves this by electronically exchanging information on the origin of goods traded under CEPA between the customs administrations of the two countries.
Streamlining Customs Procedures
The system ensures that the data fields in the Certificate of Origin (COO) are shared electronically by the export customs administration with the import customs as soon as the certificate is issued. This streamlined process is expected to speed up the clearance of imported goods.
Commitment to Use
With the soft launch of EODES, both parties reaffirmed their commitment to the early use of the system in a live environment. This commitment underlines the mutual acknowledgment that this launch is an important milestone in the prosperous bilateral relations between India and Korea. The successful implementation of EODES is expected to increase trade efficiency and cooperation between the two countries.