Customs News and HCM City Customs coordinate with EuroCham to hold a dialogue: “HCM City Customs and the business community part

Customs News and HCM City Customs Department chair and coordinate with EuroCham to organise the dialogue

Accordingly, the leader of HCM City People’s Committee, leader of General Department of Vietnam Customs, president of EuroCham, leader of HCM City Customs Department, business communities, economic experts and over 200 European enterprises with trade relations with Europe will attend the dialogue.

The year 2020 marks the 30th anniversary of Vietnam and the European Union (EU) establishing diplomatic relations. Currently, the EU is one of the largest trading partners of Vietnam with a two-way turnover of $56.45 billion (in 2019). In the midst of the spreading COVID-19 pandemic which challenges the sustainability of global value chains, the EU-Vietnam Free Trade Agreement (EVFTA) has been implemented and opened up a golden opportunity to promote cooperation and development, creating export opportunities, expanding supply chains. It is a strong driving force for Vietnam and the EU to overcome difficulties and challenges before the fluctuations of the global economy.

On February 12, 2020, the European Parliament officially passed the Free Trade Agreement (EVFTA). On June 8, the National Assembly of Vietnam ratified the EVFTA and the EU – Vietnam Investment Protection Agreement (EVIPA). On August 1, 2020, the EVFTA officially took effect. After two months of implementing the EVFTA, Vietnam’s export turnover to the EU recorded significant growth. However, in general, there are many enterprises, especially small and medium enterprises, which are not fully aware of the regulations as well as the opportunities are brought from the EVFTA.

Facing that fact, at the dialogue, authorities, economists, business associations and businesses will exchange their perceptions and experiences around issues relating to tax policy, rules of origin, and the roadmap of Vietnam when implementing the EVFTA and commitments of HCM City Customs Department to the business community in the EVFTA implementation.

Thereby, helping Vietnamese and EU businesses to grasp and maximise the benefits that are brought from the EVFTA, as well as their obligations. Along with that are solutions for mutual administrative support in the customs sector when implementing the EVFTA as well as recommendations and proposals of businesses when joining the EVFTA to promote production, trade, development and healthy competition.

At the dialogue, leaders of Ho Chi Minh City People's Committee, leaders of the General Department of Vietnam Customs, and Ho Chi Minh City Customs Department will also listen to the difficulties and problems faced by businesses in the implementation of the EVFTA.