On June 29, 2018, the Ministry of Industry and Trade of Vietnam issued Circular No. 15/2018/TT-BCT, which specifies identification of green channel traders.
Circular No. 15/2018/TT-BCT of the Ministry of Industry and Trade of Vietnam on categorization of applicants for preferential Certificate of Origin was issued on June 29, 2018, of which a notable content is the identification of red channel traders.
Circular No. 15/2018/TT-BCT of the Ministry of Industry and Trade of Vietnam on categorization of applicants for preferential Certificate of Origin was issued on June 29, 2018, of which one of the fundamental contents is the regulation on responsibilities of relevant agencies and organizations.
Circular No. 15/2018/TT-BCT of the Ministry of Industry and Trade of Vietnam officially takes effect from August 15, 2018, providing regulations on categorization of procedures for issuance of preferential C/O, which are similar to customs declaration. The issuance of preferential C/O is categorized into 3 channels, including green, red and ordinary. Criteria for categorization are specified as follows:
The Ministry of Industry and Trade of Vietnam issued Circular No. 15/2018/TT-BCT on categorization of applicants for preferential Certificate of Origin (C/O).
“Red channel trader” means a trader that is required to submit proof of origin of all shipments and might be required to have their goods undergo physical inspection when applying for the preferential C/O in Vietnam.
“Green channel trader” means a trader that is exempted for providing necessary documents or allowed to submit those documents after the prescribed deadline and may receive the C/O sooner than usual as well as be exempted from physical inspection of goods when applying for the preferential C/O in Vietnam.
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