Utilization rate of preferential C/O under FTAs increases sharply
VOV.VN - The rate of using preferential Certificates of Origin (C/O) under Free Trade Agreements (FTAs) issued since 2020 has surged by about 20% annually, with the figure expected to rise by 18% this year, according to details given by the Ministry of Industry and Trade.
This information was released during a recent symposium hosted by the Import-Export Department under the Ministry of Industry and Trade.
Nguyen Anh Son, director of the Import-Export Department, emphasized that in the process of international economic integration with Vietnam joining many FTAs, the issuance of Certificates of Origin (C/O) plays an increasingly important role.
He revealed that relevant Vietnamese agencies have recently expanded the implementation of granting C/O in electronic form and transmitting electronic C/O data to ASEAN member states and the Republic of Korea in line with international commitments.
In 2023, they issued 1,508,142 sets of preferential C/O forms with a total value of US$86.1 billion, up 9.2% in value and 1.9% in number compared to figures from 2022.
The number of preferential C/O issued to Vietnamese exports to China ranked first with a value of more than US$19.4 billion, followed by ASEAN member states with US$13.5 billion.
The third and fourth places went to the Republic of Korea and the EU with US$12.2 billion and US$12.4 billion, respectively.
This year has seen the total export turnover of goods nationwide reach an estimated US$403 billion, up nearly 14% on-year, whilst the rate of using preferential C/O continues to see double-digit growth.
These positive signs show that local businesses have been aware of the need to take full advantage of FTAs effectively to further boost exports.
