VN, US sign customs cooperation pact

VN, US sign customs cooperation pact

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The United States and Vietnam have signed a customs mutual assistance agreement to promote healthy trade ties and cooperation between the two countries.

The agreement was signed in Hanoi, Vietnam on December 6 by Vietnamese Deputy Finance Minister Vu Thi Mai and US Deputy Chief of Mission in Vietnam Caryn McClelland in the presence of Vietnamese Deputy Prime Minister Vuong Dinh Hue, reported VNA.

Speaking at the event, Mai said Vietnam attaches importance to its comprehensive partnership with the US, reflected through the government’s efforts in recent times to remove obstacles to bilateral economic-trade relations and facilitate US firms’ business activities in Vietnam.

In recent years, the Vietnamese Ministry of Finance, through the General Department of Vietnam Customs, and the US Department of Homeland Security, through the US Customs and Border Protection, have endeavored to finalize negotiations on the customs mutual assistance agreement.

The agreement offers a legal basis for an official relationship and the creation of a mechanism for cooperation, technical assistance and information exchange between the two customs agencies, with the aim to prevent, detect and handle violations of customs laws.

In particular, in view of the growing Vietnam-US trade relations, assistance activities based on the agreement will greatly contribute to trade facilitation and to the fight against trade fraud and the illegal transportation of goods across each other’s territories.

McClelland hailed the agreement as an important development in Vietnam-US trade ties, affirming that the US wishes to cooperate with Vietnam in various areas aiming to accelerate bilateral trade ties.

After the signing, Vietnam and the US will continue to implement internal procedures to put the agreement into effect.

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