Vietnamese firms warned about export scams to Canada
The Vietnam Trade Office in Canada has warned Vietnamese businesses about export scams by some individuals misrepresenting themselves as major Canadian companies.
The office said aside from conducting verification and coordination with businesses to issue warnings and take prevention measures, it has also liaised with the trade division of the Canadian Embassy in Vietnam and authorities of the North American country to ask for help with information verification.
The office has also worked with relevant parties to warn banks and major businesses of Canada against scams.
It cited data from Statistics Canada showing that Vietnam’s exports to Canada have decelerated, which accords with a downtrend in the latter’s imports.
Local data between 2018 and 2022 indicated that since the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) took effect, the Southeast Asian nation’s shipments to this market have been on the rise.
However, Vietnamese exporters have yet to fully capitalise on preferential tariffs under the CPTPP as awareness is an issue. Vietnamese products are ineligible for preferential treatment in terms of origin certification and the rate of materials sourced from the region, according to the Vietnam Trade Office.