return icon

Customs sector helps exporters utilise benefits of FTAs

The customs sector will continue to introduce measures to help Vietnamese enterprises fully tap the benefits brought about by FTAs Vietnam has signed with foreign partners, an official from the General Department of Vietnam Customs has said.


According to Au Anh Tuan, Head of the Customs Supervision and Management Division under the General Department of Vietnam Customs, the customs sector has actively supported and removed difficulties facing exporters amid the complexities posed by the COVID-19 pandemic.

It has targeted reducing costs for administrative procedures and customs clearance time and promoting the application of new technologies in information sharing to facilitate export activities.

According to the General Statistics Office (GSO), Vietnam’s export turnover in the first four months of 2021 recorded the highest growth rate in a decade for the period, rising 28.3 percent year-on-year to 103.9 billion USD.

Experts attributed the result to new generation FTAs that took effect in late 2020.

The EU-Vietnam Free Trade Agreement (EVFTA) and the Regional Comprehensive Economic Partnership (RCEP) are helping Vietnam expand its markets, increase its trade surplus, and enjoy greater benefits from extensive tariff reductions on Vietnamese goods and services exported to other parties to the agreements, they noted.

According to Tran Thanh Hai, Deputy Director of the Agency of Foreign Trade under the Ministry of Industry and Trade (MoIT), businesses must clearly understand how the FTAs can benefit their sector and their products, and adjust their raw material supply and production to meet requirements relating to origin and to enjoy tariff incentives.

Meanwhile, Director of the WTO and Integration Centre under the Vietnam Chamber of Commerce and Industry (VCCI), Nguyen Thi Thu Trang, said relevant ministries and sectors need to continue to assess the impact of each FTA on the business community, especially on each specific group and economic sector.

She emphasised the necessity to increase the dissemination of information on markets and business cooperation opportunities as well as trade promotions and business matching between domestic companies and foreign partners.

Businesses should work to bolster the competitiveness of their products and their management capacity, and be more adaptive and flexible to seize opportunities in production chains to promote business cooperation.

According to Trang, foreign-invested enterprises are often more interested in and knowledgeable about FTAs than local private enterprises.

Many Vietnamese enterprises do not fully understand what is to be gained from tariff regimes and the institutional benefits brought about by FTAs, she said, noting that this not only sees many local businesses miss opportunities but also results in them encountering obstacles when they do wish to take advantage of the opportunities.

MoIT has reported that, from August 1, 2020, when the EVFTA took effect, to April 4 this year, authorised agencies and organisations in Vietnam granted about 127,300 sets of the certificate of origin form EUR 1 for nearly 4.8 billion USD worth of exports to the 27 EU member countries.

Exporters to the EU also conducted self-certification of origin on more than 10.88 million USD worth of goods, to access preferential tariffs.



Rice exporters urged to utilise FTAs to boost declining shipments

Rice exporters urged to utilise FTAs to boost declining shipments

Vietnamese rice exporters have been urged to play a more active role in utilising free trade agreements (FTAs) to which Vietnam is a party to boost falling exports.


Vietnamese become famous for gold-wearing ‘hobby’

The hobby of wearing gold all over the body has attracted the attention of the public, even foreign news sites.

Hue Festival 2022 opens with glamor show

The week-long Hue Festival 2022 was kicked off on June 25 evening by a unique art programme and Ao Dai (Vietnamese traditional gown) show.

Bach Long Glass Bridge - A news tourist attraction in Moc Chau

A glass-bottomed bridge named Bach Long (White Dragon) was recently inaugurated in Moc Chau and it has immediately become a new tourist attraction.

Vietnam among few countries totally re-open int’l tourism market

Vietnam is the only only Southeast Asian country that has reopened international tourism without any COVID-19 restrictions, the World Tourism Organization (UNWTO) said.

Foreign Ministry spokeswoman’s story of being a writer

Assistant to Minister of Foreign Affairs, Spokesperson of the Ministry of Foreign Affairs Le Thi Thu Hang says journalism not only means reporting information, but it also has the function of leading public opinion.

Another S.Korean airline resumes direct service to Khanh Hoa

An Air Seoul flight carrying 187 passengers from the Incheon international airport arrived at the Cam Ranh International Airport in Khanh Hoa Province on June 24.

Interest subsidy vs monetary loosening

Some recent reports have indicated that the monetary policy of the State Bank of Vietnam (SBV) is not in sync with the global trend.

Developers expect smoother LNG policy planning

In Vietnam, about 20 LNG-fired power projects are in the pipeline. Some of these programmes, however, have yet to identify a fuel source.

National Assembly Chairman arrives in Budapest for Hungary visit

A high-ranking delegation of the National Assembly (NA) of Vietnam led by NA Chairman Vuong Dinh Hue arrived in Budapest on June 25 afternoon (local time), beginning an official visit to Hungary.

Next Top model crowned Miss Universe Vietnam 2022

Ngoc Chau, the winner of Vietnam’s Next Top Model 2016, was crowned Miss Universe Vietnam 2022 at a grand finale held in Ho Chi Minh City on June 25 evening.

WB, FTSE Russell pledge regular coordination in upgrading Vietnam's stock market

Representatives of the World Bank (WB) and FTSE Russell have committed to further supporting Vietnam to build a sustainable stock market, particularly via regularly exchange and coordination in the market upgrading matter.

Regions, sub-regions must be linked for development

In 2004, the Politburo released Resolution No 39-NQ/TW on socio-economic development and assurance of national defense and security in the northern part and southern coastal area of the central region by 2010.

Ensuring information security for digital platforms the top priority

Deputy Minister of Information and Communications Nguyen Huy Dung stressed that ensuring information security for digital platforms must be considered the key task, inseparable from the digital transformation process.

Aircraft fuel price reaches 8-year high

The continued air petrol price increase has caused headaches to air carriers. Airfares change from day to day.


Exhibition spotlights Hue’s enameled bronze art