January 21, 2025 | 00:04 GMT +7
Hotline: 0913.378.918
January 21, 2025 | 00:04 GMT +7
Hotline: 0913.378.918
Wheat is one of the input materials that should be concerned to import from Russia for processing export to countries that have changes in trade policies with Russia. Photo: TL.
The Trade Remedies Authority (Ministry of Industry and Trade) has just issued an Official Dispatch No. 151/PVTM-P3 dated March 21 to send to 8 industry associations including the Vietnam Steel Association; Vietnam Fertilizer Association; Vietnam Timber and Forest Products Association; Vietnam Association of Seafood Exporters and Producers; Vietnam Aluminum Association; Vietnam Food Association; Ho Chi Minh City Food Association; Vietnam Association of Mechanical Enterprises recommending some risks in import and export activities.
The official dispatch stated that recently, in the context of complicated developments in Russia-Ukraine relations, some countries have made changes in trade policies related to the Russian Federation such as a ban on imports and exports, a temporary suspension in imports and exports, even a cancel for the most favored nation (MFN) status in trade relations with Russia.
This has been causing certain complications for Vietnamese enterprises that import raw materials from Russia for export production and sell their products to a number of related countries.
Vietnamese manufacturing and exporting enterprises need to closely follow policies of related countries and carefully consider the use of materials imported from countries subjected to tariff and trade sanctions to produce goods for export to those countries issuing such sanctions.
The input materials that need to be concerned include hot rolled steel, raw wood, frozen fish, raw materials for fertilizer production, potassium, wheat, alloy, and non-alloy aluminum.
Enterprises should carefully consult their import partners about relevant issues before signing contracts and should apply prevention measures during the payment.
In particular, it is recommended that businesses should not commit fraud about the origin or help third parties to transport goods to avoid sanctions.
Translated by Trang Nguyen
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