Trade ministry warns against foreign goods forging Vietnam’s origin
Foreign goods are finding ways to secure a Vietnam certificate of origin in a bid to enjoy preferential treatments from the participation of Vietnam in free trade agreements.
The Agency of Foreign Trade under the Ministry of Industry and Trade (MoIT) warned against a growing trend of foreign goods forging Vietnamese origin to commit trade fraud and cheat customers.
Following the agency’s statement, foreign goods are finding ways to secure a Vietnam certificate of origin in a bid to enjoy preferential treatments from the participation of Vietnam in free trade agreements.
Additionally, a Vietnam certificate of origin could also be used as means to evade trade barriers from import markets.
According to the MoIT, an origin certificate fraud not only affects customers, but also causes negative impacts on domestic production, reducing credibility and competitiveness of made-in-Vietnam products.
However, as Vietnam currently does not have specific regulations and criteria for products to be certified as made-in-Vietnam, customers do not have appropriate measures to verify the products.
Existing requirements are mainly related to label, geographical indications and brands, while there are no standards to determine whether a product is considered to be made-in-Vietnam.
As of present, made-in-Vietnam products must be partly or wholly produced in Vietnam.
The MoIT urged the facilitation of new legal framework specifying requirements for products to be labelled as made-in-Vietnam in the near future.
Illustrative photo.
|
Additionally, a Vietnam certificate of origin could also be used as means to evade trade barriers from import markets.
According to the MoIT, an origin certificate fraud not only affects customers, but also causes negative impacts on domestic production, reducing credibility and competitiveness of made-in-Vietnam products.
However, as Vietnam currently does not have specific regulations and criteria for products to be certified as made-in-Vietnam, customers do not have appropriate measures to verify the products.
Existing requirements are mainly related to label, geographical indications and brands, while there are no standards to determine whether a product is considered to be made-in-Vietnam.
As of present, made-in-Vietnam products must be partly or wholly produced in Vietnam.
The MoIT urged the facilitation of new legal framework specifying requirements for products to be labelled as made-in-Vietnam in the near future.
22:59, 2024/12/24
Hanoi to attract US$768 million in industrial parks in 2024
Companies in Hanoi highlighted the significant improvements in the business environment in Vietnam, particularly in the capital, where it has become easier to operate in the industrial zones.
21:35, 2024/12/21
Regulatory efforts underway to strengthen e-commerce in Vietnam
By 2025, Vietnam's e-commerce is expected to reach 10% of retail sales and contribute to the digital economy which is estimated to account for 20% of GDP.
16:51, 2024/12/14
Hanoi honors key industrial products in 2024
This recognition is a testament to the city government's ongoing support of local businesses.
18:09, 2024/12/12
EVs take the spotlight on Vietnam's urban streets
On the streets of Hanoi, a quiet but powerful shift in transportation is underway.
13:43, 2024/12/12
Hanoi names 83 institutions Green Energy User 2024
More than 80 facilities and projects have been recognized for their innovative use of green energy in manufacturing.
12:07, 2024/12/09
Bat Trang artisans innovate to meet global market demands
To boost competitiveness, Bat Trang pottery businesses leverage information technology for product promotion.
- Vietnam youth gears up for a greener future
- Hanoi to create over 213,000 jobs in Jan-Nov
- Update on worker conditions in South Korea from Vietnamese labor authorities
- Vietnam partners with NVIDIA to establish AI research center
- Hanoi grasps opportunities to drive semiconductor industry growth
- Internet users in Vietnam to hit 100 million by 2029