Workshop organized to facilitate trade in VN

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Vietnamese enterprises should understand and meticulously apply the stringent rules of origin, as well as the exceptions of free trade agreements, to enjoy the best from preferential taxation, said Nestor Scherbey, senior adviser for the VTFA.

The Trans-Pacific Partnership (TPP) and the EU-Viet Nam Free Trade Agreement (EVFTA) are considered the most complicated ever free trade agreements, requiring Vietnamese Government offices and businesses to invest time and increase their knowledge to take full advantage of these FTAs.

Herb Cochran, Executive Director of the American Chamber of Commerce (AmCham) in Viet Nam, said that rules of origin within FTAs create a new investment opportunity for multinational companies and their suppliers in Viet Nam.

Experts at the workshop emphasized that province’s authorities in Viet Nam need to establish a trade information database of FDI businesses and domestic suppliers, to help Vietnamese enterprises become FDI businesses’ suppliers.

By Thuy Dung