The 31st South East Asian games will take place in Vietnam in May 2022. A regional event which focuses on Olympic sports, originally scheduled to take place in November 2021 but postponed due to the Covid pandemic.
Vietnam’s membership of the carnet family, which we mentioned in September 2018, was delayed for the same reason. We are pleased to say that Vietnam’s application has now been approved and they will accept carnets from 1st May 2022.
Both the games and ATA carnet membership are signs of recovery, along with an international outlook. Vietnam are keen to build trade and carnet membership will help.
The First Stage
At present, Vietnam are only accepting ATA carnets for exhibitions, fairs and other business meetings. This does make attending them far easier and as history has shown, countries who begin with one category often move onto others.
In a similar vein, as far as we are aware the 90 day stay on a carnet agreed by the Vietnamese government remains in place for now. The Vietnam Chamber of Commerce and Industry (VCCI) have indicated this can be extended if required.
The VCCI are responsible for carnet use in Vietnam and will soon add details to their English language website. They also wish to be able to offer other categories to their own businesses, so envisage wider use being available in the future.
A Useful Opportunity
Vietnam’s wish to integrate into the global economy has been evident since they joined the ASEAN grouping almost two decades ago. Part of changes in the Asia-Pacific region in the post Cold War era, which have continued.
Vietnam’s GDP grew by over 300% in the decade prior to the pandemic and they see pursuing further growth as essential. UK goods and services are respected, we also have a post Brexit trade deal with Vietnam.
Financial services, pharmaceuticals, healthcare and food, or beverages sales have been highlighted in UK government promotions. There is also a need for technology input and equipment, including renewable energy products.
Arranging Your Carnet
As with any new membership, carnet management within Vietnam will build over time. They do have training in place for customs staff, the VCCI are liasing with exhibition providers and other business groups.
The team at Dynamic Dox will keep a close eye on developments and offer support to any UK business wishing to visit Vietnam. A place where building new trade is seen as important and business apart, you can enjoy great hospitality.