Over the longer term, the Thai government plans to introduce legal reforms that will impose tougher penalties on companies found guilty of origin fraud.
The Ministry of Industry and Trade has provided early warnings for 18 export products originating from Vietnam which are facing a high risk of being investigated for trade defence measures, origin fraud and illegal transshipment.
High prices of rice sold in the domestic market and for export in the recent past have fueled risks of origin fraud, influencing the prestige of Vietnamese rice in the global market, insiders have warned.
Boasting huge production advantages and capitalising on good market opportunities, Vietnam’s furniture sector has stood firm amid COVID-19 and improved its position in the global market and especially in the US.
The General Department of Vietnam Customs has intensified a drive to crack down on the fraudulent practice of giving foreign goods a fake Vietnam origin in an illegal attempt to take advantage of export tax incentives that the country enjoys under free trade agreements.
The Vietnam News Agency had an exclusive interview with Dam Thanh The, Director of National Steering Committee 389 under the central authority on fighting smuggling, commercial fraud, and counterfeit goods.
A circular on "Made in Vietnam" products was expected to help businesses avoid accusations of fraud, said Deputy Minister of Industry and Trade Tran Quoc Khanh at a conference held in Hanoi on September 25.
A circular is being drafted to regulate ways to identify products of Vietnam and those made in Vietnam, expected to help eliminate intentional and accidental misinformation about country of origin
Some Vietnamese exports have been investigated for origin fraud and tax evasion, which requires tougher action from the Vietnamese Government to settle the problem and keep its exports growing.
The Ministry of Industry and Trade’s Import – Export Department has recently warned of the increase in trade fraud through labeling products as “Made-in-Vietnam”.