Latest Posts
Search for:
Category

Vietnam

Category

Vietnam – Ministry of Finance to develop legal framework for cross-border e-commerce in customs operations

By 3 Mins Read

The Ministry of Finance (MOF) has released a draft decree promulgating the management of exported and imported goods in cross-border e-commerce (“Draft Decree”). This is considered a positive Government initiative designed to facilitate, and ultimately expedite, the flow of e-commerce goods into Vietnam. An alternative for e-commerce transactions in customs clearance procedures The Draft Decree, as introduced by the MOF, acts as an alternative for exporters and importers in conducting customs clearance of goods purchased…

Vietnam – The CPTPP for exporters: opportunities available now

By 1 Min Read

The entry into force of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) brings with it preferential import tariff rates applicable to CPTPP originating goods. Import tariffs can amount to a substantial increase on the end cost of goods. For businesses operating in a competitive market, preferential tariff rates may afford them a comparative advantage by reducing costs. Under the CPTPP, tariff rate reductions occur automatically after the Agreement has entered into force in a member country’s territory. Accordingly, exporters of most CPTPP originating goods can enjoy preferential tariff rates immediately.

First CPTPP Commission meeting concludes in Japan

By 3 Mins Read

On January 19, 2019, Global Affairs Canada reported that the inaugural Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) Commission meeting was successfully concluded. The CPTPP Commission, consisting of representatives from Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam (the countries for which the CPTPP has entered into force), met in Tokyo, Japan and concluded their session by issuing a Ministerial statement. The Commission meeting allowed CPTPP countries to chart a course for next steps as well as agree on a framework for the accession of new members. The Ministerial Statement follows:

Canada – Implementation of the CPTPP

By 3 Mins Read

On December 5, 2018, the Canada Border Services Agency (CBSA) issued Customs Notice 18-22 Implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which announces that the CPTPP will be implemented in Canada, Australia, Japan, Mexico, New Zealand and Singapore on December 30, 2018. Additionally, the Agreement will enter into force for Vietnam on January 14, 2019. With the exception of a few agricultural goods, the CPTPP will essentially eliminate the customs duties on all qualifying imports into Canada from a country for which the CPTPP is in force (“CPTPP country”), either immediately upon implementation of the agreement, or through a tariff phase-out. At the time of issuance of CN 18-22, not all CPTPP member countries will have completed their domestic ratification process and identified an implementation date. As the remaining CPTPP member countries reach ratification and confirm an implementation date, a separate customs notice will be issued. The text of the CPTPP is available at the Global Affairs website.

Vietnam has ratified the CPTPP

By 1 Min Read

On 12 November 2018 the Vietnam National Assembly officially ratified the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (“CPTPP”). The agreement has already been ratified by Australia, Canada, Japan, Mexico, New Zealand and Singapore and it will enter into force on 30 December 2018 in those countries.