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Source: The post is based on the article “Union Finance Minister inaugurates the first Global Conference on Cooperation in Enforcement Matters (GCCEM) in New Delhi” published in “PIB” on 31st October 2023
Why in the News?
The Union Minister for Finance has inaugurated the Global Conference on Cooperation in Enforcement Matters (GCCEM) in New Delhi.
What is the Global Conference on Cooperation in Enforcement Matters (GCCEM)?
| Specification | Details |
| Hosted by | Directorate of Revenue Intelligence (DRI) under Central Board of Indirect Taxes and Customs (CBIC) in consultation with World Customs Organisation (WCO). |
| Aim | To facilitate sharing of insights, best practices and to serve as a catalyst for enhancing collaboration with Indian Customs’ partner Administrations. |
| Theme | ‘It takes a Network to fight a Network’ |
What is the World Customs Organisation (WCO)?
| Specification | Details |
| Type | An intergovernmental organization. |
| Established in | 1952 |
| Aim | To enhance the effectiveness and efficiency of Customs administrations. |
| Members | 185 Customs administrations that collectively process approximately 98% of world trade |
| Headquarters | Brussels, Belgium |
| Significance | It is the only international organization with competence in Customs matters |
| Initiatives | 1.SAFE Framework of Standards. 2.Harmonized System (HS) of tariff nomenclature. |
UPSC Syllabus: Economy
