Cabinet has approved signing and ratifying an agreement between India and Uruguay regarding cooperation and mutual assistance in Customs Matters. An official release said, the Agreement will help in the availability of relevant information for the prevention and investigation of customs offences. <br/><br/>The Agreement would provide a legal framework for sharing of information and intelligence between the Customs authorities of the two countries. The agreement is also expected to facilitate trade and ensure efficient clearance of goods traded between the countries. <br/><br/>The draft Agreement takes care of Indian Customs' concerns and requirements, particularly in the area of exchange of information on the correctness of the Customs value declared, the authenticity of certificates of origin of goods and the description of the goods traded between the two countries. Uruguay is a member of MERCOSUR, a trading block in Latin America, is an important trading partner of India.