The Protocol establishes the equivalence of formats: an electronic certificate of origin issued and signed by an authorized body in accordance with the national legislation of the participating country is accepted on an equal basis with its paper counterpart. The requirement for an electronic signature of authorized officials remains mandatory.
The Preferential Trade Agreement between India and MERCOSUR was signed in 2004 and entered into force in 2009. It covers 450 product categories for which India provides tariff reductions, and 452 categories from MERCOSUR. The new protocol is the first change to this basic document.
The transition to digital documents will reduce the costs of issuing and verifying certificates, as well as shorten the time required to complete customs procedures in both directions. For exporters working with Brazil, Argentina, Uruguay, and Paraguay through Indian hubs, this means less paperwork and more predictable cargo clearance times.
Digitalization of origin certification is a steady trend in trade relations between the BRICS countries and their partners. The electronic format eliminates the risks of loss or forgery of paper documents and allows for real-time verification of the certificate. Companies building supply chains through India to South America should check with their customs brokers and counterparties when the authorized authorities of the parties will begin issuing certificates in electronic format in accordance with the requirements of the protocol.
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