09:27 | 28/12/2019 Trade
The procedures for issuance of e-C/O Form D for exports to Cambodia, Brunei, Indonesia, Malaysia, Singapore and Thailand were officially launched in Hanoi on December 27, as part of a conference to review the industry and trade sector’s performance in 2019 and set out its tasks for 2020.
|PM Nguyen Xuan Phuc (sixth from right) and delegates press the button to launch the procedures for issuance of e-C/O Form D|
According to Deputy Minister of Industry and Trade Tran Quoc Khanh, the procedures to issue e-C/O Form D will be implemented from January 1, 2020. It continues to show the ministry’s relentless efforts in facilitating Vietnamese goods, as well as saving time and costs for exporters.
When participating in free trade agreements (FTAs), Vietnamese commodities have their export markets increasingly expanded as well as greater competitiveness thanks to preferential tariffs in free trade areas, he said.
However, to enjoy such preferential treatment, the goods must meet the rules of origin in each agreement or in other words, must be granted C/O. Therefore, C/O is considered a “passport” for Vietnam’s export commodities to enjoy preferential tariffs, the official stated.
Khanh added that in the context of increasing protectionism and trade conflicts at present, C/O is also a tool to fight origin frauds and prevent the third countries from taking the name of Vietnamese goods for unjust benefits. C/O is both an agent facilitating exports and a tool to ensure a fair and healthy competition environment for businesses.
|Deputy Minister of Industry and Trade Tran Quoc Khanh speaks at the event|
According to statistics of the Ministry of Industry and Trade, the number of preferential C/O has seen a 20-25% increase per year in the past five years, from 323,000 sets in 2013 to over one million in 2019, in which the number of C/O Form D (issued for exports to ASEAN countries) has grown from 66,000 sets in 2013 to about 185,000 sets this year. These figures show the increasingly important role of C/O when Vietnam integrates deeply into the world economy.
In addition, procedures and time for C/O issuance have been constantly shortened, from three working days previously to only 4-6 working hours at present.
Minister of Industry and Trade Tran Tuan Anh emphasised that the issuance of e-C/O Form D creates a new working style which does not require the direct contact between businesses and provides of public services. Businesses with a large volume of records or being far from the central area will benefit the most when their time and costs are significantly saved.
Besides, the workload and paper records that must be kept at C/O issuance organisations will be considerably reduced. As a result, C/O issuers can increase the quality of public services and have more time to deal with other preferential C/O grant applications.