Regulations on goods origin in CPTPP revised from May 8th

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The Minister of Industry and Trade recently signed the issuance of Circular No. 06/2020 / TT-BCT amending and supplementing articles of Circular No. 03/2019 / TT-BCT regulating rules of goods origin in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

In particular, new C / O forms in the CPTPP attached to this circular have been amended and supplemented at boxes 1, 2, 3, 5 and 11. The guidelines for declaring new C / O forms have been amended in accordance with Circular No. 06/2020 / TT-BCT in the attached appendix.

The timely issuance of new C / O forms under Circular No. 06/2020 / TT-BCT, replacing the former forms in Circular No. 03/2019 / TT-BCT, helps solve problems of some businesses upon exports to some CPTPP markets and creates more favorable conditions for businesses in taking advantage of opportunities from enjoying tariff preferences in the agreement.

Circular No. 06/2020 / TT-BCT will take effect from May 8, 2020. C/O issuers will grant new C/O forms on the same day with the effective date of the circular.

Previously, the CPTPP agreement, which came into effect in Vietnam on January 14, 2019, provided opportunities for Vietnamese exporters to expand markets and enjoy tariff preferences, especially in markets that Vietnam has not had free trade agreements in like Canada, Mexico, and Peru.

For businesses to take advantage of tariff preferences when the CPTPP is effective, the Ministry of Industry and Trade issued Circular No. 03/2019 / TT-BCT dated January 22 2019, regulating rules of goods originating in the CPTPP agreement and guiding documents.

Before businesses’ comments on the fact that some CPTPP member countries said new C/O forms in the CPTPP of Vietnam lacks statements proving the origin of manufacturers and exporters as prescribed in section 9, Appendix 3- B of the agreement, the Ministry of Industry and Trade has requested C/O issuers guide traders to declare this content in C / O forms in the CPTPP at the request of the importer.

Along with that, the Ministry of Industry and Trade will also review and amend Circular 03/2019 / TT-BCT to add the above-mentioned content.

Source: Custom News

For more information, please contact Vietnam Trade Office in Canada at Ca@moit.gov.vn