Vietnam Launches Anti-trade Fraud Council
The Vietnam Chamber of Commerce and Industry (VCCI) made debut a consultancy council for warning and preventing trade frauds in certificates of origin (C/O) in Hanoi on October 14.
The council led by Tran Thi Thu Huong is aimed to protect local producers and enterprises amid the rising number of C/O frauds, especially products being imposed anti-dumping taxes, according to VCCI Vice President Pham Gia Tuc.
In order for effective operation, Vietnam needs to coordinate with foreign organizations on anti-trade frauds and commerce chambers and agencies granting C/O, plus close cooperation with domestic ones.
The council will provide Vietnamese businesses with early warning about their to-be-signed contracts on products which are at risk of facing anti-dumping duties, Huong said.
It will also join hands with the Ministry of Planning and Investment to provide consultancies to foreign enterprises before they decide to invest in the country.
On September 22, the Vietnam Competition Authority (VCA) under the Ministry of Industry and Trade launched websites on early warning system of anti-dumping cases.
Initially, the system will focus on five goods categories of apparel, footwear, seafood, woodwork products and electric wire and cables in Vietnam’s top export markets of the U.S. and the EU.
Market watchdogs across Vietnam busted 50,896 trade frauds in the first nine months of this year, including 5,101 cases in September.
P.V
Vietnamese
