TFA could reduce Vietnam’s trade costs by 20%, according to the World Trade Organization, more than any Free Trade Agreement tariff reductions. Read more
Jul 8, 2019. Japanese trading company Sumitomo has invested in a major Vietnamese port operator, Gemadept, aiming to seize growing demand for logistics services as manufacturers shift production to Vietnam amid the yearlong U.S.-China trade war.
Sumitomo teamed up with compatriot logistics company Suzuyo and a Japanese public-private fund specializing in infrastructure investment to take a 10% interest in Ho Chi Minh-based Gemadept. The trading house provided more than half of the roughly 4 billion yen ($37 million) the team paid to a local fund for the stake.
With demand for container shipments growing 7% annually in Vietnam, Sumitomo plans to build a logistics network connecting plants to ports for seamless export of Vietnam-made goods. Sumitomo is among the growing ranks of companies eager to cash in on the production shift away from China triggered by the trade war.
Gemadept owns six ports in Vietnam, handling 1.7 million containers for an over 10% market share. Sumitomo, meanwhile, operates three industrial parks in the Hanoi suburbs and owns a logistics unit in the country.
The tie-up will bring factories, logistics facilities and ports under Sumitomo’s management, allowing for greater efficiency and cost reduction. To that end, Sumitomo will develop a smartphone app that will enable truck drivers to reserve loading processes at ports and electronically handle other paperwork.
Tracking the movements of trucks will allow cargo to be loaded both ways. If all trucks carry cargo on both ways for the 150 km trip between Hanoi and Hai Phong, it would result in annual savings of $18 million, Sumitomo estimates.
At Hai Phong port, drivers generally have to wait one to two hours for cargo to be loaded onto ships. Such wait times average 12 minutes in Japan.
Posted: Jul 8, 2019 (Herb Cochran)
USTR announced an increase of special tariffs to 25% on $200 billion of U.S. imports from China on May 10 (“3rd List”), and then, on May 13, announced a “4th List” of $300 billion of imports from China subject to special tariffs, so the tariffs will cover all U.S. imports from China. Contact CTRMS for help moving sourcing from China to Vietnam, including “Advance Rulings” from U.S. Customs and Border Protection. Read more
The U.S. Trade Representative is taking the necessary steps to impose tariffs on the remaining $300 billions worth of Chinese goods coming into the U.S. The USTR plans to hold a public hearing on June 17, followed by at least a week of discussions. This gives the White House a window of time leading up to the G-20 Summit, Jun 28-29 to decide. Read more
Jan 30, 2018. Authorities have called for more measures to reduce traffic congestion at HCM City’s Cát Lái Port, District 2 and 9.
A representative of the HCM City Cargo Transportation Association added transport firms could save some billion đồng per day if traffic congestion was eliminated.
Cát Lái Port handles 89 per cent of total goods in the south and 50 per cent in Việt Nam.
In addition to a high volume of traffic, traffic flowing from perpendicular directions and narrow distances between traffic lights have made it challenging for drivers.
Incomplete road infrastructure has also contributed to traffic congestion, with ongoing constructions of Kỳ Hà 3 Bridge, a flyover and tunnel crossing Belt Road No 2, Đường added.
According to the Department of Transport, the tunnel project will be completed in two weeks and the flyover before April 30.
SGS has been accredited for two FDA programs under the Food Safety Modernization Act (FSMA): Voluntary Qualified Importer Program (VQIP) and Foreign Supplier Verification Program (FSVP). These two programs allow expedited entry through Customs into the USA for Vietnamese food facilities/exporters certified under these programs. Read more
Executive Summary. The U.S. Trade and Development Agency (USTDA) provided grant support to Vietnam National Shipping Lines (Vinalines) to conduct the “Vietnam Transportation Logistics Feasibility Study”. The objectives of the study are to profile the existing processes, information systems and infrastructure for handling import and export containerized cargo, and to make recommendations for future improvements to reduce the costs and improve the security of containerized trade. Vinalines contracted with SSA Marine to conduct the study. A U.S. company, SSA Marine is a leading independent marine terminal operator with terminal operations in North America, Panama, Mexico, Chile, Costa Rica and New Zealand. In Vietnam, SSA Marine is participating in development of new container terminals at Cai Mep to serve the HCMC region and at Cai Lan in Northern Vietnam. Read more
AAFA (the American Apparel and Footwear Association presented an “open-industry webinar,” sponsored by KPMG, available to all professionals in the apparel and footwear industry. These webinars feature insight and knowledge sharing by AAFA member companies who provide business solutions for your supply chain, trade policy, and brand protection needs. The on-demand webinar, “Determining Country of Origin,” explained CBP’s Country of Origin rules to ensure that companies make the right moves in response to the U.S.-China “Section 301 tariffs impact, and in the most cost-efficient way possible.
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Advance Rulings provide certainty and speed up customs clearance.
Avoid possible negative impact from U.S.-China Trade Dispute and risk of “False Declaration of Origin”.
U.S. Advance rulings are legally binding written decisions by U.S. Customs and Border Protection at the request of the person concerned on specific particulars, classification, origin, origin markings, valuation, etc., in relation to the intended importation of goods into the United States.