VIETNAM: Customs Data Sharing Agreement Signed with the US

In a bid to enhance security cooperation and facilitate trade, the country has signed a Customs Mutual Assistance Agreement (CMAA) with the US. In a statement confirming the new arrangement, the US Customs and Border Protection (CBP) said: “The CMAA will enable the US and Vietnam to combat terrorism and transnational crime more effectively while also facilitating the increasing volume of lawful commerce.”

According to the CBP, the CMAA, as enforced by the customs administrations of both countries, will provide the legal framework for the exchange of information relating to compliance with customs requirements, including data on duty evasion, trafficking, proliferation, money laundering and terrorism-related activities.

The signing of the agreement is also believed to be linked to concerns that third-party US-bound exports are being routed through Vietnam in order to evade higher import duties and anti-dumping / countervailing measures. From Vietnam’s perspective, the agreement is also in line with existing measures designed to prevent overseas-manufactured items being re-exported as domestically-produced.

Trade between Vietnam and the US currently stands at US$60 billion per annum and has been growing by a about 10% a year since 2009.