Customs in pact with Hong Kong

BRUSSELS (VNS)— Viet Nam’s General Department of Customs and Hong Kong Customs and Excise signed a mutual co-operation and assistance agreement on Friday.

The agreement, which was signed in Brussels, Belgium during the annual meeting of the World Customs Organisation, is the 18th co-operative agreement that Viet Nam made with customs agencies around the world.

Speaking at the signing ceremony, Vietnamese Department of Customs General Director Nguyen Ngoc Tuc underlined the significance of the agreement in fostering customs co-operation between Viet Nam and Hong Kong, especially in preventing smuggling, trade fraud and violations of customs laws.

“The agreement is an important milestone in co-operation between the two countries and will benefit both sides,” he said.

Hong Kong is now a territory of transit for many of Viet Nam’s import-export commodities. Two-way trade between the two sides increased from US$3.1 billion in 2011 to $4.7 billion in 2012. — VNS