New Delhi, Sept. 15 -- India and Southern Common Market (Mercosur) have signed an additional protocol to allow electronic Certificates of Origin (CoO) under their preferential trade agreement, paving the way for paperless trade and faster customs procedures between the two sides.

The move will give electronically issued CoOs the same legal validity as paper certificates and is expected to reduce transaction costs and processing time associated with their issuance and verification.

Digitalisation Of Trade Documentation

A Certificate of Origin is required by importers to establish that goods originate from an eligible FTA partner and qualify for preferential tariff concessions, reported PTI.

Under the protocol, electronic CoOs will be i...