Applying the Product-Specific Rules (HS version 2017) under the Chapter on Rules of Origin in VKFTA from August 1, 2022 (06/03/2022)
On December 22, 2021, within the framework of the 5th session of the VKFTA Joint Committee for Implementation in Seoul, Korea, the Minister of Industry and Trade of Vietnam and the Minister of Trade, Industry and Energy of the Republic of Korea. on behalf of the Governments of the two countries to sign the Note to exchange and amend the Product Specific Rules specified in Appendix 3-A of the Vietnam - Korea Free Trade Agreement (VKFTA).
The above revised Appendix 3-A has some new contents as follows:
- Technical conversion of the list of Item Specific Rules (PSR) of 97 Chapters at the HS level of 6 numbers from the HS 2012 version to the HS 2017 version.
- Amendment of the corresponding origin criteria for a number of textile products of headings 61.01 - 61.17, 62.01 - 62.12 and 62.15 - 62.17.
The exchange note with the list of PSRs in Appendix 3-A, as amended above, will take effect from August 1, 2022 after Vietnam and Korea complete the necessary domestic legal procedures and notify each other through diplomatic channels.
Implementing international commitments and adjusting the process of issuing C/O form VK according to Decree No. 31/2018/ND-CP dated March 8, 2018 of the Government detailing the Law on Foreign Trade Management on the origin of goods. On June 1, 2022, the Minister of Industry and Trade signed and promulgated Circular No. 09/2022/TT-BCT amending and supplementing a number of articles of Circular No. 40/2015/TT-BCT dated November 18, 2022. 2015 of the Minister of Industry and Trade providing for the implementation of the Rules of Origin in the Vietnam - Korea Free Trade Agreement. Circular No. 09/2022/TT-BCT includes 2 articles and 1 Appendix, in which the content of the Appendix replaces the entire Appendix II (Item-specific rules) issued together with Circular No. 40/2015/ TT-BCT above.
Circular No. 09/2022/TT-BCT dated June 1, 2022 of the Minister of Industry and Trade takes effect from August 1, 2022.
Source: Import and Export Department