Businesses updated on new EU’s tax regulations
(VOV) -Local businesses and relevant agencies have learnt regulations on origin and issuance of certificate of origins, to help them expand exports in the EU market.
At a seminar was held in the southern province of Dong Nai on August 6, Vietnamese businesses discussed principles of origins in free trade agreements (FTA) and the new Generalised Scheme of Preferences (GSP) of the European Union (EU).
Claudio Dori, EU-MUTRAP’s technical assistance team leader, said the new GSP is expected to make a positive impact on Vietnam during the 2014-2017 period such as the re-application of preferential tariffs on a number of export products which was removed following the old GSP.
However, Vietnam still faces increasing fierce competition from the union’s FTA partners, said Dori, adding that the problem can be solved once Vietnam signs a trade pact with the EU.
According to the new GSP, all products from Vietnam will enjoy preferential tariffs when imported into the EU, but they must meet a number of requirements, especially those in origin.
Nguyen Huu Nam, a representative from the Vietnam Chamber of Commerce and Industry (VCCI), said the new regulations will help promote Vietnam’s exports to the EU market.
The seminar was co-organised by Dong Nai province’s Department of Industry and Trade and the European Trade Policy and Investment Support Project (EU-MUTRAP).