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What is the subject of the Memorandum of Cooperation signed between India and New Zealand?

  1. A.Electronic exchange of origin data on trade in goods
  2. B.Mutual recognition of academic degrees
  3. C.Removal of all tariffs on dairy products
  4. D.Joint naval exercises in the Indian Ocean

Correct answer

A. Electronic exchange of origin data on trade in goods

Explanation

The correct answer is the electronic exchange of origin data on trade in goods. The memorandum deals with how the two customs administrations will share, in advance and in electronic form, the data that establishes where goods were produced, since a certificate of origin is what decides whether a consignment can claim the lower duties available under a trade agreement. The stated expectation is better operational efficiency, fewer information gaps and more certainty for traders, along with fuller use of the tariff preferences negotiated under the India-New Zealand Free Trade Agreement. Option B concerns education and is unrelated to this customs arrangement. Option C goes well beyond the memorandum, which does not itself change duty rates on any product. Option D belongs to defence cooperation and has nothing to do with the document signed by the CBIC and the New Zealand Customs Service.

Read the full article: India, New Zealand Sign MoC on Electronic Origin Data Exchange

Practice Questions

Q1.InternationalMedium

Which Indian body signed the Memorandum of Cooperation on electronic origin data exchange with the New Zealand Customs Service?

  1. A.Directorate General of Foreign Trade
  2. B.Central Board of Indirect Taxes and Customs
  3. C.NITI Aayog
  4. D.Reserve Bank of India
Show answer
Correct answer: B. Central Board of Indirect Taxes and Customs

The memorandum concerning the electronic exchange of origin data on trade in goods was signed by the CBIC on behalf of India and by the New Zealand Customs Service on the other side, with CBIC Chairman Vivek Chaturvedi and NZCS Comptroller and Chief Executive Christine Stevenson putting their names to…

Q3.InternationalMedium

In the power sector, what does EHV stand for?

  1. A.Electrical Hybrid Voltage
  2. B.Extra High Voltage
  3. C.Efficient High Voltage
  4. D.Enhanced Hydro Voltage
Show answer
Correct answer: B. Extra High Voltage

Saudi Arabia listed cooperation on such transmission systems as one of its priorities in the meeting with the Indian power ministry.

Q4.InternationalHard

Which of the following was NOT among the areas in which Saudi Arabia sought enhanced cooperation with India in this meeting?

  1. A.Extra High Voltage transmission systems
  2. B.Power requirements of emerging data centres
  3. C.Updating of grid codes
  4. D.Construction of nuclear power reactors
Show answer
Correct answer: D. Construction of nuclear power reactors

The Saudi side named four specific subjects for closer work, and the first three options are exactly three of them.

Q5.InternationalMedium

The India-Saudi Arabia Electrical Interconnection initiative was reviewed in a virtual bilateral meeting led on the Indian side by which official?

  1. A.The Secretary, Ministry of Power
  2. B.The Secretary, Ministry of External Affairs
  3. C.The Chairperson, Central Electricity Authority
  4. D.The Secretary, Ministry of New and Renewable Energy
Show answer
Correct answer: A. The Secretary, Ministry of Power

The correct answer is the Secretary, Ministry of Power, Pankaj Agarwal, who held the virtual bilateral meeting with his Saudi counterpart to review progress on the proposed cross-border link.