Enterprises informed of latest EU regulations

Enterprises informed of latest EU regulations

A seminar was held on Tuesday in the southern province of Dong Nai to discuss the principles of ‘origins' in free trade agreements (FTA) and the new Generalised Scheme of Preferences (GSP) the European Union has adopted.

During the seminar entitled "Rules of Origin in FTAs and new EU laws," which was co-organised by Dong Nai Province's Department of Industry and Trade and the European Trade Policy and Investment Support Project (EU-MUTRAP), businesses and Governmental agencies were updated with the latest information in the field.

They also learned about the regulations on origin and issuing certificates of origin which would help them make full use of the new GSP and promote their exports further to the EU market.

According to Claudio Dori, head of the EU-MUTRAP's technical assistance team, the new GSP will have a positive impact on Viet Nam during the period 2014-17 as a number of exports will see preferential tariffs reintroduced, after they were removed following the old GSP.

However, Viet Nam still faces increasingly fierce competition from the union's FTA partners, said Dori, adding that the problem could be solved once Viet Nam signs a trade pact with the EU.

According to the new GSP, all products from Viet Nam will enjoy preferential tariffs when imported to the EU, but they must meet a number of requirements, especially those on origin.

Addressing the seminar, Nguyen Huu Nam, representing Viet Nam's Chamber of Commerce and Industry, said that the new regulations will help to promote Vietnamese exports to the EU market.

Also at the seminar, Trinh Thi Thu Hien, an official from the Ministry of Industry and Trade, gave a briefing on ways of making full use of the Rules of Origin in FTAs, that Viet Nam has joined.

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