India, Oct. 22 -- The Central Board of Indirect Taxes and Customs (CBIC) and the New Zealand Customs Service (NZCS) signed a Memorandum of Cooperation (MoC) concerning electronic origin

data exchange of trade in goods, the finance ministry said on Wednesday.

The electronic exchange of origin data is expected to improve operational efficiency, reduce information gaps and provide greater certainty to traders engaged in bilateral trade, the ministry said in a statement.

The MoC was signed under the India-New Zealand FTA which entered into force from October 20, and is a step towards strengthening customs cooperation and facilitating bilateral trade between the two countries.

It reflects the shared commitment of India and New Zealand to l...