Home » Vietnam admitted into world commerce chamber’s ATA Carnet Guarantee Chain

Vietnam admitted into world commerce chamber’s ATA Carnet Guarantee Chain

The admission allows Vietnam to further integrate into the global economy, empowering its local firms with greater facilitation in their business missions abroad.

(SVBG) – The World Chambers Federation General Council on 29 November 2021 approved the Vietnam Chamber of Commerce and Industry (VCCI) as the 79th country member of the ATA Carnet Guarantee Chain.

The admission on the sidelines of the World Chambers Congress in Dubai followed the recommendations by the World ATA Carnet Council (WATAC), a working body under the International Chamber of Commerce (ICC).

The Chain includes chambers and business organizations that have been appointed by their national customs authorities to issue and guarantee Carnets.

This marks the latest step for the implementation of the ATA Carnet system for the country and operations are scheduled to begin on 1 May 2022.

WATAC Chair Ruedi Bolliger said: ‘Vietnam had long been a desired destination of ATA Carnet users worldwide and businesses may now finally benefit from the advantages of the ATA Carnet in the Southeast Asian country.”

“The admission also allows Vietnam to further integrate into the global economy, empowering its local firms with greater facilitation in their business missions abroad,” he added.

The ATA Carnet is an international customs document that allows for the duty- and tax-free temporary import of goods for up to one year.

The scope of application covers goods for display or use at exhibitions, fairs, meetings or similar types of events.

Carnets are particularly useful for businesses wanting to temporarily import professional equipment for projects and events, provide samples to customers or exhibit at trade fairs.

They improve opportunities for businesses by reducing customs procedures and minimizing heavy deposits. SVBG