Illegal Transshipment

In order to better combat trade fraud activities in the future, the Ministry of Finance is requesting related agencies to soon issue specific criteria for domestically-produced goods.

Foreign companies are abusing preferential treatments from free trade agreements (FTAs) between Vietnam and its partners for illegal transshipment.

The Ministry of Finance would cooperate with the US in identifying fields and goods with high risks of origin fraud or illegal transshipment for information sharing and communication.

Vietnam customs have identified a list of foreign goods forging Vietnamese origin that contributed to a surge in exports to the US, including bicycles, solar batteries, seafood, and wooden products.

The resolution is a necessary move to ensure sustainable development of Vietnam’s exports and lawful rights of local compliant traders.

This part reviews outstanding internal and external economic events of Vietnam in the past year.

Vietnamese customs authorities are keeping close watch on investment shift from foreign countries, especially China, into Vietnam to prevent product origin fraud and illegal transshipment.

Despite trade protection measures from the authority, Vietnam’s steel imports continue to surge.