In order to legally borrow Vietnam, please be sure to meet the new Vietnamese origin policy.
According to Vietnamese media "hanoitimes" quoted Vietnam Statistics Bureau data, from January to July, Vietnam's exports were 145.13 billion US dollars, a year-on-year increase of 7.5%; imports of 143.34 billion US dollars, a year-on-year increase of 8.3%. The total import and export volume for 7 months was 288.47 billion US dollars.
From January to July, the United States was Vietnam's largest export market, with a total export of US$32.5 billion, up 25.4% year-on-year; Vietnam's exports to the EU were US$24.32 billion, up 0.4% year-on-year; Vietnam's exports to China were US$20 billion, up 0.1% year-on-year.
China is Vietnam's largest source of imports. From January to July, the more China imported US$42 billion, a year-on-year increase of 16.9%. South Korea’s exports to Vietnam were 26.6 billion U.S. dollars, down 0.8% year-on-year; ASEAN’s exports to Vietnam were 18.8 billion U.S. dollars, up 5.2% year-on-year.
In order to avoid some companies borrowing from Vietnam, export to the United States. The Ministry of Industry and Trade of Vietnam recently issued the standard “Made in Vietnam” (origin).
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Made in Vietnam, it can be: agricultural products and resources originating in Vietnam; products that are finally completed in Vietnam must include at least 30% Vietnamese local value added according to international HS code standards. That is to say, 100% of overseas imported raw materials must be added with a 30% added value in Vietnam before they can be exported in Vietnam.
According to the example of "hanoitimes", the Vietnamese local silk brand Khaisilk exported the Chinese-made silk scarves to the label of Made in Vietnam and exported them overseas. The television company Asanzo, which imported its components from China, was assembled in Vietnam and exported overseas in the origin of Made in Vietnam. The two companies violated Vietnam’s law of origin.
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At the same time, Vietnam recently said on the government's official portal that it has found dozens of forged products of origin certificate, as well as some companies trying to evade the illegal transfer of US tariffs, products related to textiles, aquatic products, agricultural products, tiles, honey. , iron, steel, aluminum and pressed wood.
With the continuation of the Sino-US trade war, it is expected that Vietnam will continue to surge in exports to the United States in the second half of 2019. In the same period, Vietnam’s management of origin in Made in Vietnam will be more stringent.
Here, we also remind the vast number of Chinese foreign trade companies to pay attention! If you want to legally borrow Vietnam, please be sure to meet the Vietnam New Deal! Require 30% new added value!