Illustrative image (Photo: VNA) Hanoi (VNA) – The Ministry of Industry and Trade has announced amendments to the rules of origin under the ASEAN-China Free Trade Agreement (ACFTA), which will take effect on September 12. Commodities are considered having clear origins only if they are wholly produced from materials with traceable origins. Aside from the regional value content (RVC), the general rule also applies the change in tariff classification (CTC) at 4-digit, De Minimis rule, identical and interchangeable materials. Regarding processing time for tracing origin, in case certificate of origin (CO) issuing authority of exporting countries do not respond within 90 days after receiving importers’ request for confirming origin, the authority may submit documents to extend the deadline to the next 90 days. In addition to the general rule, the product specific rule (PSR) was built on the Harmonised System (HS) 2017, which added origin criteria for various goods. … [Read more...] about Ministry announces changes in rules of origin in ASEAN-China FTA
Asean china free trade agreement pdf
Free trade agreements help labourers’ rights reform
Thu Vân With the EU – Việt Nam Free Trade Agreement (EVFTA) signed late last month, Việt Nam will have the opportunity to gain further access to the market of 28 European Union member countries as well as global markets. As one of the ‘new generation’ bilateral agreements, the EVFTA trade deal includes commitments to implement International Labour Organisation core standards. The Vietnamese Government is now revising the Labour Code, which, if adopted, will represent major progress towards alignment with the International Labor Organisation (ILO) 1988 Declaration on Fundamental Principles and Rights at Work. In parallel, the Government has ratified one of the three remaining ILO core conventions – Convention 98 on collective bargaining – earlier this year. It is working towards the ratification of Convention 105 on forced labour in 2020, and Convention 87 on freedom of association by 2023. In the revised Labour Code that … [Read more...] about Free trade agreements help labourers’ rights reform
Vietnam poised to profit from free trade agreements
Lindsey Ice, senior economist from Spanish-based FocusEconomics, which provides in-depth global economic analysis Since the doi moi policy started in 1986 and more recently through its accession to the World Trade Organization in 2007, Vietnam has become a success story of robust economic growth driven by trade liberalisation and global integration. Indeed, Vietnam’s opening to international commerce and FDI has undoubtedly played a pivotal role in the stellar growth it has experienced over the last three decades, which transformed it from one of the poorest nations in the world to a middle-income market economy. Its economic narrative has been one of rapid transition from an agriculture-based economy to one where manufacturing and services play a much larger role. One key way of boosting trade and economic development is through participation in free trade agreements (FTAs). Two such pacts that are slated to come into effect in 2019 and could have a profound impact on the … [Read more...] about Vietnam poised to profit from free trade agreements
PM backs ASEAN-China cooperation
Viet Nam News SINGAPORE — Prime Minister Nguyễn Xuân Phúc said he supports ASEAN-China efforts to develop their connectivity in terms of mutual trust, physical connections and human connections. PM Phúc made the statement at the 21st ASEAN-China Summit held in Singapore on Wednesday, part of the 33rd ASEAN Summit framework. The event also celebrated 15 years of strategic partnership between the two sides. Highlighting the importance and benefits of the partnership for both parties and for peace, stability and co-operation in the region, Phúc agreed that ASEAN and China should enhance dialogues and collaboration, as well as build mutual trust and uphold international law, contributing to the formation of codes of conduct for an open, transparent and rule-based regional structure. The Government leader said the East Sea issue remains complex, causing concern for all sides involved and possible negative impacts on regional stability. He said ASEAN and … [Read more...] about PM backs ASEAN-China cooperation
PM Nguyen Xuan Phuc backs ASEAN-China cooperation
PM Phuc made the statement at the 21st ASEAN-China Summit held in Singapore on November 14, as part of the 33rd ASEAN Summit framework. The event also celebrated 15 years of strategic partnership between the two sides. Highlighting the importance and huge benefits of the partnership for both parties involved and for peace, stability, and cooperation in the region, Phuc agreed that ASEAN and China should increase dialogue efforts and collaboration, as well as build mutual trust and uphold international law, contributing to the formation of codes of conduct for an open, transparent, and rule-based regional structure. At the 21st ASEAN-China Summit The Vietnamese Government leader said the East Sea (South China Sea) issue remains complex, causing concern for all sides involved and possible negative impacts on regional stability. He underscored that ASEAN and China should continue upholding the principles they had agreed upon, which involve boosting dialogues; building … [Read more...] about PM Nguyen Xuan Phuc backs ASEAN-China cooperation