Duration for Application of Transitional Safeguard Measures Not to Exceed 2 Years

01:46, 10/07/2024

Recently, the Ministry of Industry and Trade issued Circular 19/2019/TT-BCT stipulating the application of special safeguard measures to implement the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

In Clauses 3, 4, and 5 of Article 8 of this Circular, the duration for applying transitional safeguard measures (BPTVCT) is specifically regulated as follows:

- The duration for applying BPTVCT shall not exceed 02 years. The duration can be extended for a maximum of 01 year if the investigating authority concludes that it is necessary to continue applying BPTVCT to prevent or remedy serious injury and facilitate the adjustment of domestic production. The duration can be extended for a maximum of 01 year;- After the expiration of the BPTVCT application period, the import tax rate applied to the related goods shall be in accordance with the Special Preferential Import Tariff Schedule implementing the effective agreement at the time of termination of the BPTVCT application;- For cases where the BPTVCT application exceeds 01 year, it must be gradually loosened throughout the application process.

More details can be found in Circular 19/2019/TT-BCT effective from September 30, 2019.

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