EU-ABC ready to help Vietnam Customs improve operational efficiency

The EU- ASEAN Business Council (EU-ABC), on the one hand, wants goods to be cleared quickly and facilitates trade, and on the other hand is ready to help customs improve operational efficiency and understand the needs of the business community, as well as in other issues such as fighting against illegal trade.

That is the information shared by Mr. Chris Humphrey, Executive Director, the EU- ASEAN Business Council with the press within the framework of the 33rd ASEAN Customs Directors General Meeting taking place in Phu Quoc from June 4 to June 6, 2024.

According to Mr. Chris Humphrey, to benefit the business community and facilitate legal trade, the he EU- ASEAN Business Council has proposed plans and initiatives to support and cooperate with ASEAN Customs in next time.

The first is an informed compliance initiative. This initiative helps businesses better understand the procedures they must follow to comply with the requirements of customs authorities, including Vietnam Customs. Businesses have a better understanding of procedures, such as forms and declarations, which will help speed up customs clearance.

Another area is low-value goods and e-commerce goods. We have seen e-commerce growth post-Covid-19 in the region, with an increase in low-value shipments, and ASEAN is a region with a strong growing digital economy. Stemming from the need for quick customs clearance and ensuring control of low-value goods, I believe that e-commerce businesses need to strengthen cooperation with customs authorities to better understand each other's needs. Helps quickly clear customs of this type of goods throughout Southeast Asia.

The last but very important area is strengthening cooperation against illegal trade. Illegal trade causes loss of budget revenue for the state. For consumers, there is concern about the safety of illegal products. For businesses, it is damage to their reputation if fake or counterfeit products are sold on the market. This is an area where customs and businesses need to strengthen cooperation, not only in capacity building training, but also in information sharing.

Assessing the business environment in Vietnam in creating favorable conditions to attract the business community, Mr. Chris Humphrey said that since Vietnam-EU Free Trade Agreement was implemented a few years ago, there has been significant increase in two-way trade between Vietnam and the EU. This is a very encouraging signal. Vietnam positioned itself as a trading nation, and is now one of the world's leading trading nations. This is because Vietnam participates in many FTAs such as CPTPP, RCEP and FTAs with bilateral partners.

“Vietnam has become an attractive destination for foreign investors, such as building manufacturing factories, service centers, and exporting goods around the world. Not only trade, but the investment sector has also grown since Vietnam-EU FTA took effect. Vietnam has become a trade center not only in Asia but in the world, based on the aforementioned FTAs, young and dynamic workforce, as well as favorable geographical location.

In addition, businesses around the world are currently diversifying their supply chains due to the impact of the Covid-19 pandemic, war, etc. Vietnam is determining its position very well in that supply chain diversification”, Mr. Chris Humphrey emphasized.

Source: Customs News