New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    What is the primary objective of the India-Korea

    Electronic Origin Data Exchange System (EODES), recently launched in New Delhi, and how does it contribute to facilitating trade under the India-Korea Comprehensive Economic Partnership Agreement (CEPA)?
    A EODES aims to streamline healthcare data exchange between India and Korea. Correct Answer Incorrect Answer
    B It focuses on enhancing education infrastructure in both countries through electronic collaboration. Correct Answer Incorrect Answer
    C EODES facilitates the exchange of gene therapy data for sickle cell disease between India and Korea. Correct Answer Incorrect Answer
    D The system enables the electronic sharing of origin information for goods traded under CEPA, expediting customs clearance. Correct Answer Incorrect Answer
    E EODES primarily addresses climate change concerns through data sharing between India and Korea. Correct Answer Incorrect Answer

    Solution

    The primary objective of the India-Korea Electronic Origin Data Exchange System (EODES) is to facilitate the implementation of the India-Korea Comprehensive Economic Partnership Agreement (CEPA) by electronically exchanging origin information between the customs administrations of both countries. This system expedites the clearance of imported goods by enabling the electronic sharing of data fields in a Certificate of Origin (CoO) immediately upon issuance. It is a significant step in enhancing international Customs cooperation and aims to set a global template for similar initiatives.

    Practice Next

    Relevant for Exams: