Home / Knowledge / News / Apparel/Garments / Vietnam issues new circular on certificates of origin

Vietnam issues new circular on certificates of origin

07
Feb '19
Vietnam issues new circular on certificates of origin
The Vietnamese ministry of industry and trade recently issued a circular stipulating the certificates of origin (C/O) rules in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). CPTPP has some different clauses compared to other free trade agreements (FTAs) that Vietnam has signed, according to the ministry’s import-export department.

The differences include clauses related to rule of origin of goods and rules of origin of refurbished and recycled goods. The circular will take effect from March 8, 2019.

Goods exported from Vietnam would be applied with the C/O mechanism by agencies and organisations authorised by the ministry, according to Vietnamese media reports.

The transition time to implement the mechanism of exporters eligible for self-certification of goods origin is carried out from 5 to10 years under the ministry’s guidance. The mechanism of Vietnamese importers certifying their origin is implemented after 5 years from the effective date of the CPTPP.

For Vietnamese goods exported before the effective date of this circular, C/O-granting agencies and organisations shall consider granting C/O forms to enjoy tariff preferences under the agreement and regulations of importing member countries.

Only when the origin requirements are met can Vietnamese products be exported to new markets to enjoy preferential tariffs. This is a strict rule of origin to prevent countries that are not members of the agreement from taking advantage of tax incentives.

CPTPP rules of origin for yarns are a big bottleneck for the industry. Vietnam still has to import nearly 99 per cent cotton, 1.3 million tonnes of fibre and 80 per cent fabric. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 15th Dec 2019

Global economy to slow, tensions to ease in 2020: report

Global economic growth is likely to fall to just over 3 per cent in...

IOM Finland Chief of Mission Simo Kohonen & H&M Group Head of Sustainability Anna Gedda sign MoU. Pic: IOM

Apparel/Garments | On 15th Dec 2019

IOM, H&M to work for protection of migrant workers

The International Organisation for Migration (IOM) and H&M Group have ...

Pic: GlobeNewswire

Textiles | On 15th Dec 2019

Founder's Hemp & Nufabrx make CBD oil-compression sleeves

Founder's Hemp and Nufabrx have joined hands to reinvigorate the...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

The budget will give major impetus to textile and apparel consumption

Abhimanyu Singh Rathore & Barbara Anna Kosiorek, Kannbar

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Top executives, Fashion houses, India

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Ken Butts,

Ken Butts

The mission of Swiss company Datacolor is to empower its customers to make ...

Ravindra Jain, Ashish Baid,

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


December 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search