Vietnamese firms learn about US-related export regulations

Processing shrimp for export (Source: VNA)

Jointly organized by the Vietnam Chamber of Commerce and Industry (VCCI) and the American Chamber of Commerce in Vietnam (AmCham), the event aimed to support Vietnamese exporters in building export business plans and strategies.

Deputy head of the Department of International Relations of VCCI Nguyen Vu Kien highlighted the role and importance of trade and investment ties between Vietnam and the US. In the context that economies are applying trade protection measures to protect their domestic economy, Vietnamese exporters need to be acquainted with information related to their target markets, he said.

Addressing the event, Chairwoman of AmCham in Ho Chi Minh City Amanda Rasmussen shared useful information about the US market and issues that Vietnamese businesses should consider when exporting to this market.

According to Amanda, export-import turnover between Vietnam and the US in the first quarter of 2019 hit 18.44 billion USD, up nearly 37 percent year-on-year, of which Vietnam’s export to the country increasing 16.9 percent and import, 40.15 percent.

Before approaching the US market, Vietnamese exporters need to check import restrictions, estimate customs fees, and provide sufficient documents requested by the host country, participants said.

Amanda said the latest report on business environment in Vietnam compiled by AmCham shows that Vietnam is attracting attention of investors.