APEC Delegates Call for Vietnam to Ease Customs Procedures

Customs representatives from the 21 APEC member nations late February 2006 called on Vietnam to ease customs procedures, one of the barriers hindering the country from further integrating into the global economy.

 

The call was made at the first gathering under a meeting of the Sub-Committee on Customs Procedures (SCCP), a part of the first APEC Senior Officials Meeting (SOM 1) in preparation for the 14th APEC summit in Hanoi later this year.

 

Addressing the meeting, Le Manh Hung, head of the Vietnam General Department of Customs, stated that the communist Government and Ministry of Finance have created favorable conditions for the customs sector to accelerate its reform and modernization process, in line with international economic integration orientations and the common customs development trends of APEC member economies.

 

APEC comprises the most two dynamic economic regions: East Asia and North America, with a total population of 2.5 billion, an annual GDP revenue of US$19 trillion, and making up 47 per cent of the total global import-export value.

 

“Therefore, the role of the customs sector among APEC economies should be heightened to facilitate import-export exchanges,” said Hung.

 

Regarding the Investment Experts Group Meeting, delegates have put forth initiatives to the APEC Business Advisory Council (ABAC) and the Organization for Economic Co-operation and Development (OECD) to improve the investment environment.