Union Finance Minister inaugurates the first Global Conference on Cooperation in Enforcement Matters (GCCEM) in New Delhi

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Source: The post is based on the articleUnion Finance Minister inaugurates the first Global Conference on Cooperation in Enforcement Matters (GCCEM) in New Delhipublished 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)?

SpecificationDetails
Hosted byDirectorate of Revenue Intelligence (DRI) under Central Board of Indirect Taxes and Customs (CBIC) in consultation with World Customs Organisation (WCO).
AimTo 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)?

SpecificationDetails
TypeAn intergovernmental organization.
Established in1952
AimTo enhance the effectiveness and efficiency of Customs administrations. 
Members185 Customs administrations that collectively process approximately 98% of world trade
HeadquartersBrussels, Belgium
SignificanceIt is the only international organization with competence in Customs matters
Initiatives1.SAFE Framework of Standards.
2.Harmonized System (HS) of tariff nomenclature.

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