A seminar was held on August 6 in the southern province of Dong Nai to discuss principles of origins in free trade agreements (FTA) and the new Generalised Scheme of Preferences (GSP) of the European Union.

During the event, which was co-organised by Dong Nai province’s Department of Industry and Trade and the European Trade Policy and Investment Support Project (EU-MUTRAP), businesses and relevant agencies were updated with latest information in the field.

They also learned regulations on origin and issuing certificate of origins which would help them take full use of the new GSP and expand their exports in the EU market.

According to Claudio Dori, EU-MUTRAP’s technical assistance team leader, the new GSP would have positive impacts on Vietnam during the 2014-2017 period such as the re-application of preferential tariffs on a number of export products which was removed following the old GSP.

However, Vietnam still faces increasing fierce competition from the union’s FTA partners, said Dori, adding that the problem can be solved once Vietnam signs a trade pact with the EU.

According to the new GSP, all products from Vietnam will enjoy preferential tariffs when imported to the EU, but they must meet a number of requirements, especially those in origin.

Addressing the event, Nguyen Huu Nam, representative from the Vietnam Chamber of Commerce and Industry (VCCI) said the new regulations will help promote Vietnam’s export to the EU market.-VNA