New York, N.Y., December 20, 2021 — Vietnam is set to become the seventy-ninth member country to accept ATA Carnets for the temporary, duty-and tax-free importation of various types of goods, beginning May 1, 2022, according to the United States Council for International Business (USCIB), which administers the ATA system in the United States.
ATA Carnets are critical tools of trade facilitation known as the “merchandise passport” or “passport for goods” that simplify customs procedures for the temporary movement of goods and permit goods to enter a party to the System duty and are tax free for up to one-year. They provide users with many benefits, including being easy to use and eliminate surprises at the border; one document allows many country visits during a year of validity; streamline processes at border crossings; and they save time and money (duties & taxes).
ATA Carnets cover import of professional equipment, commercial samples and items for display at exhibitions and fairs. When countries join the ATA system they determine their scope of coverage. As of May 1, Vietnam will allow ATA Carnet covering only exhibitions and fairs (E&F).
The worldwide ATA Carnet system is overseen by the World Customs Organization (WCO) and the International Chamber of Commerce (ICC) – World Chamber Federation (WCF). USCIB is the sole U.S. National Guaranteeing and Issuing Association for ATA Carnets.
“Vietnam has an export market of nearly ten billion dollars,” said USCIB Senior Vice President and Chief Financial Officer Declan Daly, who oversees USCIB’s ATA Carnet operations. “ATA Carnets are tools of export promotion as well. They will allow American and other foreign companies to explore the market and conduct business deals with the country, while enabling Vietnamese businesses easier access and exploration to the U.S. and other global markets.”
The ATA System is in place in over eighty-five countries and territories and provides duty-free and tax-free imports on goods that will be re-exported within twelve months.
Please visit the Vietnam ATA Carnet page for more info.
