EU – Vietnam Free Trade Agreement
EU – Vietnam Free Trade Agreement
Did you know that you could save money on your international shipments to and from Vietnam? The EU-Vietnam Free Trade Agreement (EVFTA) creates significant opportunities for businesses in both regions by removing duties on almost all products of EU or Vietnam origin. All it takes is a simple declaration to be added to the commercial invoice.
Learn how you could benefit from the EU-Vietnam FTA.
What’s in it for your business?
Cost savings
Duties on almost all products are removed either immediately or over time and non-tariff barriers reduced.
Improved access
Easier access to the Vietnamese market could mean new opportunities for your business.
Simpler regulation
It is now easier for EU and Vietnam companies to work together, for example, by aligning product safety standards.
Simplified, modern customs procedures
Modern customs processes allow for quick and easy release of your goods.
NOTE: The trade agreement applies to duties, not taxes. Any applicable VAT for imports into Vietnam or the EU still needs to be paid.
How can I benefit?
To benefit from reduced or 0% tariffs, products must be of ‘EU origin’. All it takes is a declaration. No formal certificate is required. Simply add the following to your commercial invoice (or any other commercial document) along with a detailed description of the goods as you would usually do:
Sample Statement of Origin:
(Period: from___________ to __________)
The exporter of the products covered by this document (customs authorisation No ______) declares that, except where otherwise clearly indicated, these products are of EU preferential origin.
__________________________________
(Place and date)
_________________________________
(Signature of the exporter; in addition, the name of the person signing the declaration has to be indicated in clear script)
Declarations of origin will be valid for 12 months from the date it was made out for exports to Vietnam.
It is essential that the declaration is filled out correctly or it may be rejected by customs. Please consult the official text of the origin declaration, which comes with explanatory notes and is available in all applicable languages.
The customs authorisation No. is your Registered Exporter (REX) number. It is required for all shipments valued over €6000.
How to get a REX number
- Register online with your national customs authority.
- If you are a first-time REX user, you might want to read the REX Guidance document.
- Once you receive it, you can add your Registered Exporter number to commercial invoices of shipments to Vietnam valued over €6000.
How can FedEx help?
Fast Intercontinental Shipping
We help your business reach its full potential. With our express parcel service, you can import from Vietnam and export to Vietnam in just 2 days*.
Easy Customs Tools
Make clearance easier thanks to our free tools. With FedEx Electronic Trade Documents, reduce the risk of customs delays by submitting your documentation electronically.
* Availability of services and transit times referred to may vary depending on shipment type, origin and destination. Terms and conditions apply – visit fedex.com for full details of our services.
Always make sure to check the rules and regulations of the country you’re shipping from and to prior to shipping. Please review the EU-Vietnam Free Trade Agreement for more information.