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The EAEU and Vietnam in principle agreed upon the exchange of customs information

The EAEU and Vietnam in principle agreed upon the exchange of customs information

8/29/2017

The issues regarding the exchange of customs information were discussed during the second round of negotiations between the countries of the Eurasian Economic Union (EAEU) and the Socialist Republic of Vietnam.

Following the negotiations, the Head of the EAEU delegation, the Director of the EEC Customs Infrastructure Department, Baktybek Baiserkeyev, reported that the parties had reached a common position on the principles of exchanging information about goods that are moved from Vietnam to the EAEU countries and back, and also agreed on a number of articles of the draft Protocol on Information Exchange. The agreements reached were recorded in the outcome document signed by Baktybek Baiserkeyev and the Deputy Director General of the International Cooperation Department of the General Department of Customs of Vietnam, Nguyen Anh Tai.

During the third round of negotiations, which is held in October in Vietnam, the parties will complete the discussion of the information intended for exchange, the draft technical conditions for submitting information, and proposals in respect of particular types of goods that are in trade turnover of the EAEU and Vietnam for the pilot exchange at the first stage of implementation.

Electronic information exchange will increase transparency of trade flows and ensure more efficient implementation of the Free Trade Agreement concluded between the EAEU and the Republic of Vietnam in 2015.

The Socialist Republic of Vietnam is the second country, with which the Eurasian Economic Union establishes electronic exchange of customs information. Several rounds of negotiations with the People’s Republic of China have been already held on the conclusion of an Agreement on Information Exchange on Goods and International Transportation Vehicles Moved Across the Customs Borders of the Eurasian Economic Union and China.