Yesterday, the Ministry of Industry and Trade held a meeting with a team of policy makers who will work on a new decree to replace Decree 31/2018/ND-CP, aiming to complete the legal framework on management of origin of goods and help businesses adapt to stricter rules of origin imposed by import markets amid many fluctuations in global trade.
At the meeting, delegates and experts discussed key issues including decentralization, authorization for Certificate of Origin (C/O) issuance, fraud prevention and illegal transshipment, the self-certification of origin mechanism, promotion of electronic C/O issuance, procedural simplification, and enhancing the effectiveness of state management in origin-related matters.
Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan emphasized the need to align closely with the Government’s directives, as well as current market conditions, to address business challenges, maximize benefits from free trade agreements (FTAs), and promote sustainable export growth.
The Deputy Minister of Industry and Trade also requested to widely consult ministries, agencies, associations, and the business community to ensure high feasibility for the new decree, providing practical support for trade activities.
The Ministry of Industry and Trade reports that Decree 31/2018/ND-CP has effectively facilitated businesses' utilization of FTA tariff preferences over its seven-year implementation. This is evidenced by a substantial increase in export value under preferential C/O, rising from US$48.9 billion in 2018 to a record US$99.3 billion in 2024 despite global economic volatility.
The legal framework for rules of origin has been further defined through 45 guiding documents. Nevertheless, the Ministry underscores the necessity for a comprehensive revision of the current decree to align with the evolving rules of origin and certification mechanisms within new-generation FTAs, as well as to ensure conformity with both domestic legislation and international practices.
