October 07, 2020

EuroCham Participates in an Event with the HCMC Department of Customs on Implementing the EVFTA

On 6 October, EuroCham attended and participated in an event with the Ho Chi Minh City Department of Customs on the implementation of the EU-Vietnam Free Trade Agreement (EVFTA).
 
Entitled “Ho Chi Minh City Department of Customs and Businesses Partner together to implement the EU – Vietnam Free Trade Agreement”, the event brought together representatives from the Ministry of Finance, including Vice-Minister Vu Thi Mai; the HCMC Department of Customs, the HCMC People’s Committee including its Vice-Chair Le Thanh Lien; as well as from the General Department of Customs.
  
 
EuroCham Chairman Nicolas Audier and Vice-Chair Nguyen Hai Minh joined the event and participated in a panel discussion on the strategic cooperation between European business and the HCMC Department of Customs in the implementation of the EVFTA.
 
Commenting at the event, Nicolas Audier welcomed the recent introduction of the plan to implement the EVFTA, including the decree providing the list of tariffs, Decision 2298/QD-TCHQ from the General Department of Customs, as well as local guidance from the HCMC DOC. In particular, he highlighted the two webinars EuroCham has co-organised with the HCMC DOC including training sessions on customs procedures, HS Codes, and rules of origin.
   
   
Turning to the obligations and responsibilities for companies, Mr Audier discussed the need for companies to meet high standards on, for instance, intellectual property rights and Geographic Indications. Environmental standards are also an important part of the EVFTA, and companies will need to meet high standards to export to the European market. Mr Audier added that European consumers are willing to spend more for products meeting high labour and environmental standards.
 
The panel then moved on to discuss how the EVFTA can help spur economic recovery and re-build supply chains after the COVID-19 pandemic. EuroCham’s Executive Director Oliver Regner remarked that interruptions to global trade have caused a shortage of some products, and businesses have been forced to find alternative sources and solutions.
 
However, now the EVFTA has entered into force and eliminated 70 per cent of tariffs on goods exported to the EU and 65 per cent of tariffs on imports from the EU, the EVFTA will provide opportunities to recover export turnover for both sides. Furthermore, Vietnam is a first-mover in signing an FTA with the EU. Therefore, the EVFTA will serve as a basis for the EU to sign other new-generation Free Trade Agreements with more ASEAN countries in particular, and with ASEAN in general. So, the EVFTA will help European businesses to expand their markets and develop supply chains in the world’s fastest-growing region and help them to position themselves in new markets in the future.
 
Concluding with a discussion of how more FDI could be attracted from the EU, EuroCham’s representatives recommended that customs authorities continue to make their administrative procedures simpler, more streamlined and less time-consuming.

Access the document here

More News

See all

June 01, 2023

[EXTENDED] [Work @ EuroCham] ADVOCACY MANAGER

Read more

June 01, 2023

[EXTENDED] [Work @ EuroCham] JUNIOR EXTERNAL RELATIONS OFFICER

Read more

May 29, 2023

EuroCham in the News

Read more

May 26, 2023

Addressing foreign work permit challenges: EuroCham and MOLISA hold discussions

Read more

May 25, 2023

EuroCham Chairman Gabor Fluit publicizes the upcoming Business Connection Forum for EuroCham-Tay Ninh partnership

Read more

May 25, 2023

EuroCham welcomes new members at an orientation in Hanoi

Read more

May 24, 2023

Airbus and the Vietnam Academy of Science and Technology celebrate milestone achievement as VNREDSat-1 exceeds expectations in remarkable decade of orbital success

Read more

May 24, 2023

Nordcham Business Briefing details Power Development Plan VIII

Read more

May 24, 2023

Exploring Vietnam’s retail market & consumer trends at EuroCham’s luncheon seminar

Read more

May 22, 2023

Vietnam achieves major breakthrough in energy sector with approval of Power Development Plan (PDP) VIII

Read more

May 22, 2023

EuroCham in the News

Read more

May 19, 2023

IP Business Advisor from the South-East Asia IP SME Helpdesk joins global brand professionals at INTA Annual Meeting Live+ in Singapore

Read more

May 18, 2023

EuroCham’s visit to Roche Diagnostics: spotlight on the crucial role of diagnostics and advocacy for a strong medical devices sector

Read more

May 18, 2023

[CORPORATE] Vietnam National Architecture Award 2022-2023 – Deutsches Haus Ho Chi Minh won the highest award

Read more

May 17, 2023

[Work @ EuroCham] Public Relations Coordinator – based in Ho Chi Minh City

Read more

May 16, 2023

The signing of Vietnam’s Power Development Plan (PDP) VIII marks a milestone for sustainable energy development and increased international investment

Read more

May 15, 2023

EuroCham in the News

Read more

May 15, 2023

EuroCham receives award from the Vietnam Investment Review for promoting foreign investment in Vietnam

Read more

May 15, 2023

EuroCham joins Hoan My Medical Group at Prima’s grand unveiling

Read more

May 12, 2023

EuroCham raises concerns on Credit Institutions Law at meeting with Vietnam’s National Assembly’s Economic Committee

Read more

May 12, 2023

EuroCham holds productive meetings in Hanoi with key Vietnamese officials

Read more

May 12, 2023

Spanish Chamber of Commerce Vietnam holds official launching, paving the way for stronger Spain-Vietnam economic ties

Read more

May 11, 2023

Successful resumption of Business Thursdays series, hosted by EuroCham for May, attracts over 120 attendees

Read more

May 11, 2023

VIETRADE panel: FAABS Chairman Jesper Clausen Urges Vietnam to Embrace EVFTA and Promote Sustainable Products for EU Market Success

Read more

May 10, 2023

Chairman Gabor Fluit joins EU Delegation Europe Day celebration in Ho Chi Minh City

Read more

May 09, 2023

HAPPY EUROPE DAY!

Read more

May 09, 2023

EuroCham representatives attend workshop on draft Law on E-Transactions organized by the Science, Technology and Environment Committee of the National Assembly

Read more

May 08, 2023

The EuroCham Digital Sector Committee hosts webinar on insights and guidance for ensuring compliance with Vietnam’s Personal Data Protection Decree

Read more

May 08, 2023

EuroCham in the News

Read more

May 07, 2023

EuroCham attends activities as part of Luxembourg’s mission to Vietnam, along with Vietnam’s Minister of Industry and Trade Nguyen Hong Dien as well as Luxembourg Prime Minister Xavier Bettel

Read more

Pour une expérience optimale, veuillez tenir votre mobile à la verticale !

Platinum Partners

Gold Premium Partners

Gold Partners

Silver Partners

Premium Service Partners