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Thứ 3, Ngày 15/11/2022, 15:00
Guidance on applying tax incentives through origin of goods in EVFTA, UKVFTA
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15/11/2022

​PORTAL - On November 14, in Thu Dau Mot City, the Department of Industry and Trade held a Seminar "Guidance on applying the new Rules of Origin to enjoy tax incentives in the EU-Vietnam Free Trade Agreement (EVFTA) and UK-Vietnam Free Trade Agreement (UKVFTA)". 

​Attending the seminar were representatives of departments, committees, branches, enterprises operating in import and export in the province.

 

Delegates attend the Seminar

At the seminar, experts presented the following contents: Distinguishing regulations of origin under EVFTA, UKVFTA and GSP; how to determine origin under EVFTA, UKVFTA and GSP; origin certification mechanism under EVFTA, UKVFTA and GSP; certification of origin after GSP termination (January 01, 2023); updating the understanding of origin criteria in EVFTA: non-woven fabrics, textiles without needle piercing; adding together with Korea, ASEAN, other partners; Circular supplementing and amending Circular 11/2020/TT-BCT; some situations and documents for issuance of C/O EUR.1; declaring ecosys when no consignee information in the EU is available; overview of regulations and trends in applying trade remedies (TR) in the world; regulations and practices of TR in Vietnam; an overview of the export situation of Vietnamese goods to other countries' markets; current situation of Vietnam's export goods being applied TR measures in the world during the past time; current situation of responding to TR cases of Vietnamese enterprises; an overview of TR cases that Vietnam has investigated and applied to imported goods and some typical cases; impact of TR measures on Vietnam's economy, etc.

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Ms. Trinh Thi Thu Hien - Head of Origin of Goods of the Ministry of Industry and Trade update the EVFTA and UKVFTA Rules of Origin at the Seminar

The report at the Seminar showed that, in the first 10 months of 2022, Binh Duong's import and export trade recovered and grew steadily; the province continued to have a trade surplus of 7.9 billion USD. In which, export turnover of goods reached more than 28 billion USD, up 9.4% over the same period; import turnover reached more than 21 billion USD, up 0.1% over the same period.

In the market of countries that sign new and important free trade agreements such as EVFTA, CPTPP, UKVFTA, it has achieved positive growth.

Besides import and export trade, attracting foreign direct investment (FDI) capital is also a bright spot of the province. Accumulated in the first 10 months of the year, attracting FDI reached 2.7 billion USD, up 56.8%. In particular, the highlight is the project of Lego Group (Denmark) with an investment capital of more than 1 billion USD.

Regarding the implementation of EVFTA and UKVFTA, from August 01, 2020 to December 31, 2022, Binh Duong Export-Import Management Office has issued 8,994 EUR 1 sets of Certificates of Origin (CO); from January 01, 2021 to October 31, 2022, issued 54,308 EUR 1 sets and 8,410 EUR 1 UK sets. Particularly in exporting shoes and sandals to the UK market, from August 01, 2020 to December 31, 2022 issued 7,001 EUR 1 sets; from January 01, 2021 to October 31, 2022 issued 38,897 EUR 1 sets and 6,004 EUR 1 UK sets.


Mr. Nguyen Thanh Toan - Director of the Department of Industry and Trade speaks at the Seminar

Speaking at the seminar, Mr. Nguyen Thanh Toan - Director of the Department of Industry and Trade said that the Seminar aims to support enterprises and trade associations to update and disseminate knowledge about rules of origin and procedures for certification of origin in New and important free trade agreements with profound and wide influence such as EVFTA and UKVFTA; together with international and domestic regulations on the process and procedures for implementing TR in order to protect the interests of the domestic industry in the context of integration. At the same time, creating favorable conditions for the contingent of civil servants, public employees, people, enterprises and trade associations to update their knowledge on international economic integration, free trade agreements, and trade remedies in the international market, etc.​

​Reported by Thao Lam- Translated by Thanh Tam​​


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