India and UAE to find virtual trade corridor to fast-track shipments

India and the UAE are looking at a virtual trade corridor to ease the clearance of shipments. According to the proposal, all the approvals and clearances with respect to customs will be online on both sides. This move is to speed up the bilateral free trade agreement and cut down the cost and time for customs clearance.

As per the virtual trade corridor proposal, the customs officials of the two countries will explore ways to access pre-arrival information for cargo movement to make the cross-validation quick. Last year the two countries India and UAE decided to have an integrated single window solution and virtual trade corridors to minimise time and cost in trade. With pre-arrival online documents can be reviewed by customs will reduce delays on both sides. In case there is any concern it can be highlighted and clearance agencies can resubmit the corrected documents. It will be a fast process an specifically for perishable goods, it comes as a boon as it can be shipped quickly.

Aai Sahai, DG and CEO of FEO (Federation of Indian Exports Organization) mentioned that it is a welcome initiative and needs to be extended to all the key markets to boost trade. With this change, there will be a seamless flow of cargo on both sides thus helping trade to grow without any impediment. He added that this program should be extended to all the major export destinations that need to be explored to get quick clearance for easy trade on both sides.