May 31, 2022 | ATA Carnet | Jason Palumbo
ATA Carnet News : Vietnam Joins Global ATA Carnet System
As of May 1, 2022, Vietnam has become the seventy-ninth member country to accept ATA Carnets for the temporary, duty-and tax-free importation of various types of goods, per an announcement provided by the United States Council for International Business (USCIB).
USCIB Senior Vice President and Chief Financial Officer Declan Daly, said,
“ATA Carnets will allow American and other foreign companies to explore the market and conduct business deals with the country, while enabling Vietnamese businesses easier access and exploration to the U.S. and other global markets.”
Dating back to the start of the U.S. – China “Trade Wars” of 2019, tariffs have motivated U.S. importers to look for new sources, and Vietnam has become a key trade partner whose importance is on the rise. Per the United States Census Bureau, the U.S. exported nearly $11B worth of goods to Vietnam and imported over $100B from Vietnam. Those numbers represent a 22% increase from trade volume in 2020, and the trend continues into 2022.
In 2022-23 Vietnam is scheduled to host 114 trade shows across dozens of industries. As of May 1, Vietnam will allow ATA Carnet covering exhibitions and fairs (E&F). By joining the ATA Carnet system, Vietnam strengthens their status as a global investment destination and becomes even more attractive to international events and exhibitions.
We look forward to providing you with ATA Carnets to Vietnam! Contact your ATA Carnet Help Desk today, and be the first to enter Vietnam on an ATA Carnet! You can reach us at 1.800.Carnets (1.800.227.6387) or by email at Carnets@RoanokeGroup.com.