CAPE TOWN - The Brics member countries are working towards strengthening co-operation and mutual assistance to facilitate trade with one another, says the SA Revenue Service.
The delegates from Brazil, Russia, India, China and South Africa met in Durban for the 10th annual customs experts technical working group hosted by Sars.
The revenue service said yesterday that the meeting had focused on finalising the Brics Customs Mutual Administrative Assistance Agreement by 2021, to enable the smooth movement of goods between member countries and boost economic co-operation.
It also deliberated on the value of an integrated risk management system, not only for customs, but for tax administration purposes, which is likely to form part of the agenda in the upcoming Brics tax meetings in Johannesburg in June.
The Brics countries have implemented various models of authorised economic operator programmes, which give preferential treatment to certain traders, importers and exporters.
African News Agency