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Workers process cashew nuts for exporting |
The information was heard at a conference on preventing fraud in international trade organized by the Ministry of Industry and Trade yesterday, many businesses said they had suffered great losses due to falling into scamming traps when exporting goods to many markets.
Mr. Hoang Minh Chien, Deputy Director of the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade, said that on average, global businesses lose 5 percent of their total revenue each year because of fraud in international trade with the loss of about US$1.7 million.
For instance, a number of Vietnamese businesses have recently fallen into a scamming trap when exporting 76 containers of cashew nuts to the European market. The representative of Vietnam's commercial counselor in Canada recommended that businesses should proactively prevent this by closely keeping connection of information with Vietnamese business offices abroad.
Most of the cases, in which importing enterprises ask their exporting partners to make certificates saying it mandatory, are scammers because the importing enterprises often carry out these procedures in the host country.
