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Intensive training conference on tax commitment and rules of origin in CPTPP and EVFTA

02/11/2022

To assist the business community in making the most of the commitments of the Agreement, and at the same time to support government officials, especially in the Can Tho area and neighboring provinces, in the implementation of the Agreement. Commitments of the Agreement, on November 4 and 5, 2020, the Ministry of Industry and Trade cooperated with the Department of Industry and Trade of Can Tho city to organize the “Intensive Training Conference on Commitments in Comprehensive Partnership Agreement and Trans-Pacific Progress (CPTPP) and the Free Trade Agreement between Vietnam and the European Union (EVFTA) ”.

To assist the business community in making the most of the commitments of the Agreement, and at the same time to support government officials, especially in the Can Tho area and neighboring provinces, in the implementation of the Agreement. Commitments of the Agreement, on November 4 and 5, 2020, the Ministry of Industry and Trade cooperated with the Department of Industry and Trade of Can Tho city to organize the “Intensive Training Conference on Commitments in Comprehensive Partnership Agreement and Trans-Pacific Progress (CPTPP) and the Free Trade Agreement between Vietnam and the European Union (EVFTA) ”.


As of date, Vietnam has been implementing 13 free trade agreements, including 02 new generation Free Trade Agreements with high standards and wide commitment scopes, namely the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Free Trade Agreement between the European Union and the Socialist Republic of Viet Nam (EVFTA). These two agreements are expected to create a profound impact on our country's economy in the period of 2021 - 2035, helping to expand export opportunities, thereby fostering the country's economic growth. On the 4th and 5th of November 2020, the Ministry of Industry and Trade, in cooperation with the Department of Industry and Trade of Can Tho City, organized the “Intensive Training Conference on commitments in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Free Trade agreement between the European Union and the Socialist Republic of Viet Nam (EVFTA)” to assist the business community in taking full advantages of the Agreements’ commitments, as well as to support government officials, especially in Can Tho and its neighboring provinces . The conference attracted numerous representatives from local departments, agencies, business community, industry associations, and media agencies of southern provinces/cities.

The conference took place within 02 days with 04 intensive training sessions, focusing on the contents related to goods and rules of origin in the EVFTA on the first training day and similar commitments in the CPTPP on the second training day.

During the two days of training, speakers from the Ministry of Industry and Trade focused on contents related to the overview of import and export tariff, provided guidance on search and implementation of import and export tariff commitments, rules of origin and methods to effectively access the member countries' markets. At the discussion session, under the guidance of in-charge officials, the conference addressed the problems facing businesses by referring to the realistic situations that some businesses were currently facing while learning to export to CPTPP member countries in particular those with a first-time FTA with Vietnam, as well as the Member States of the European Union.

After joining the CPTPP, companies can enter the market of more than 499 million people, with a GDP of up to USD 10.6 trillion, equal to 13.3 percent of world GDP. Meanwhile, with a GDP size of 18,000 USD, the EVFTA opens the door to the market. These are enormous advantages for Vietnamese companies, so it is important for companies to organize intensive training courses on tariff commitments and rules of origin to take advantage of the incentives offered by the agreement.

The training course is also an opportunity for businesses to speak out, recognize existing difficulties and problems at the threshold of open integration brought about by the new generation FTAs, thereby contributing actively to the development of realistic and efficient policies and at the same time, orienting strategies to optimize opportunities, mitigate challenges, promote exports in particular and grow local economies.

 

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