Vietnam ‘s customs revenue set to hit over $13 billion in 2020
Vietnam’s trade performance continues to stay positive with the trade turnover as of December 15 rising by 4.5% year-on-year, or US$22 billion to $515.27 billion.
Vietnam’s trade performance continues to stay positive with the trade turnover as of December 15 rising by 4.5% year-on-year, or US$22 billion to $515.27 billion.
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.
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.