|Cashew exports to the EU. Local exporters should register the REX code to enjoy preferential tariffs. (Photo cafef.vn)
REX, or registered exporter system, is a system of certification of origin of goods based on self-certification granted by the European Commission (EC) under the Generalised System of Preferences Treatment (GSP) that is the tariff for developing countries. The system has been used to gradually replace the certification of origin of goods (C/O) form A.VOV
The Vietnam Chamber of Commerce and Industry (VCCI) has been in charge of implementing the registration of REX code for businesses under a decision of the Minister of Industry and Trade.
The department said Vietnam is among countries implementing the registration of REX code in 2019 and will be extended for the end of C/O form A by the end of June 2020. The EU’s customs will not accept the C/O form A for exporters registering REX code.
The ministry has urged the VCCI to speed up the registration for businesses to ensure that domestic exporters could enjoy the GSP.
The VCCI's statistics showed that there have been more than 1,200 firms registering for the REX code so far. Another 280 companies are waiting for approval.
However, the number was still modest. There are two months left for the deadline, requiring firms to quickly complete the registration.