CEEC 9th Share & Learn took place on 31st May, 2018, with the topic “Overcoming challenges in export and import”.
The workshop started with the comprehensive presentation given by Mr. Tamas Ritter, representing pharmaceutical company – EGIS. Tamas started with Vietnam international trade balance analysis. Overall trade exchange doubled over last 5 years, with import and export value fairly equal. There was a significant change in traded goods over that period of time. Commodities and low processed articles have been changed for electronic goods, garment and footwear and machinery. We could also hear that key import origin countries are China, Korea and Japan, while number one export destination are USA. Pharmaceutical products are coming from France, Germany and India while 80% APIs (active components) come from China and India.
The importance of existing and upcoming (EVFTA) free trade agreements between Vietnam and other countries was highlighted, as import tariffs for many products are significantly reduced. Audience also received information on different types of import schemes, which can be divided by two categories: direct import and authorized import. There are many documents required in international trade such as: commercial invoice, bill of lading, packing list, certificate of origin, certificate of insurance and many more. Short explanation of INCOTERMS was also given. The whole presentation can be found here.
Secondly, Mr. Cristian Predan, following a short introduction of Gebruder Weiss, presented four best practice case studies facilitating international trade. Case studies demonstrated challenges faced by real companies exporting or importing goods and offered a solution. Case studies highlighted a need of dedicated logistic solution designed based on customer needs and taking into consideration many factors like required transit time, cargo volume and frequency, number of shipments and incoterms. Depending on above factors, logistics companies may offer various solutions including different modes of transportation (Full Container Load, Less Container Load, Air Freight), buyers consolidation at origin to save cost of freight, or bonded warehouse at destination to save on transit time or optimize inventory levels and custom duties.
Overall comments also emphasized effort and progress Vietnam has made in terms of simplifying customs procedures.
The S&L event was concluded with many questions from the audience and an interesting discussion.