Vietnam exported 4.8 billion USD of goods to EU since after 8 months EVFTA took effect

According to the Ministry of Industry and Trade, from August 1, 2020 to April 4, agencies and organizations authorized to grant EUR.1 C/O forms have issued more than 127,296 sets with a turnover of more than USD 4.78 billion to 27 EU countries.

Vietnam exported 4.8 billion USD of goods to EU since after 8 months EVFTA took effect Vietnam exported 4.8 billion USD of goods to the EU after 8 months EVFTA took effect

In addition, businesses exporting goods to the EU also self-certify the origin for nearly 3,585 consignments with a value of more than 10.88 million USD, enjoying tariff preferences under EVFTA. The items with C / O form EUR.1 are mainly footwear, seafood, textiles, agricultural products, cereal products, electronics … Import markets are mostly countries with seaports and distribution and transit centers of the EU such as Belgium, Germany, the Netherlands, and France.

The rules of origin in the EVFTA are specified in Circular 11 of the Ministry of Industry and Trade issued on June 15, 2020, i.e. 1 week after the National Assembly ratified the EVFTA, and one and a half months before the EVFTA takes effect. This is one of the great efforts of the Ministry of Industry and Trade in promulgating, so that Vietnamese exporters have time to thoroughly learn about this content, to ensure their goods when coming to the EU will enjoy tariff incentives. This Circular provides very specific, clearly what criteria goods must ensure to be considered as meeting the criteria of EVFTA.

For example, agricultural products – one of the main products exported to the EU are classified into two categories of goods. The first is the type of pure origin (plants, products grown, harvested in the member country). For example, coffee grown in Dak Lak is considered a product of pure Vietnamese origin and when exported to the EU will enjoy 0% preferential treatment for this item. If there is a Thai coffee variety grown in Vietnam, that product is also considered a pure origin product. For domestic animals, the agreement stipulates that live animals born and raised in a member country are considered to have origin in Vietnam.

For goods of non-pure origin, preferential tariff treatment can only be made when the basic conversion criteria are met; material limit; processing stage. For example, Belgium and Switzerland are famous for chocolate products, but cocoa is mainly imported from Africa as raw material for production. However, because these two countries essentially convert the goods into chocolate confectionery, thus, meeting the basic conversion criteria, they are still entitled to tariff incentives.

Particularly for agricultural, forestry and fishery products, the Ministry of Industry and Trade also recommends enterprises to pay close attention to the declarations of agricultural products purchase. Because of the agricultural products we buy in farmers’ households a lot. Meanwhile, farmers and traders are not sure that there are documents proving in accordance with EU regulations. Therefore, enterprises need to apply the instructions of the Ministry of Industry and Trade related to the declaration of raw material area, area, season …. and store carefully, to be able to prove that the goods are of origin. Avoiding the case when exporting, they are entitled to tariff incentives but a few years later, when checking again, the documents are insufficient or lost, the EU will collect the tax amount that the enterprise has enjoyed.

EVFTA currently allows the application of a Certificate of Origin (C / O) (C / O form EUR.1) mechanism and a self-certification of origin mechanism. In Vietnam, the time to apply self-certification is specified by internal law. Before applying this mechanism, Vietnam will notify the EU and issue domestic guidance. The verification of origin mechanism in the EVFTA Agreement is a verification mechanism between a government agency and a government agency (G to G), and the time between the two sides to conduct paper document origin verification is 10 months.

In case the importing country continuously detects the origin of goods fraud or the exporting country lacks cooperation, prevents the importing country from checking and verifying the origin at the production establishment, the two sides shall work together to discuss remedial measures. After 30 days of disagreement, the case is brought to the Agreement Implementation Committee and after 60 days of failure to reach a resolution, the importing party applies the preferential suspension. Offer period is 3 months and can be extended for another 3 months.

Currently, the EU still grants Vietnam the universal preferential tariff (GSP) mechanism. In principle, when a country signs an FTA with the EU and the agreement comes into effect, the GSP will end. However, during the first time EVFTA took effect, due to the tariff reduction steps in the EU tariff commitments, EU preferential tariffs at the time EVFTA comes into effect may be higher than the tariff that Vietnam Men are enjoying in GSP. Therefore, the EU allows Vietnam to transition from GSP to EVFTA with a 7-year roadmap.

Source: ndh.vn – Translated by fintel.vn

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