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US, Vietnam signs customs assistance agreement

THE US has entered into a Customs Mutual Assistance Agreement (CM) with Vietnam in order to work closely on security and facilitate legitimate trade

US, Vietnam signs customs assistance agreement

THE US has entered into a Customs Mutual Assistance Agreement (CM) with Vietnam in order to work closely on security and facilitate legitimate trade

15 December 2019 - 19:00

THE US has entered into a Customs Mutual Assistance Agreement (CM) with Vietnam in order to work closely on security and facilitate legitimate trade.

The Customs Mutual Assistance Agreement (CM) was signed by the US embassy's Deputy Chief of Mission Caryn McClelland and Vietnamese Vice Minister of Finance Vu Thi Mai in Hanoi.



These agreements allow for the exchange of information, intelligence and documents between the US and other countries to prevent and investigate customs violations. Each agreement is tailored to the capacities and national policy of an individual country's customs administration, CBP said, reported American Shipper.



'This agreement is a critical step forward in our economic and security partnership with Vietnam,' said CBP's deputy assistant commissioner for international affairs E Erik Moncayo in a statement. 'The CM will enable the US and Vietnam to more effectively combat terrorism and transnational crime while facilitating increasing volumes of lawful commerce.'



According to the Office of the US Trade Representative, trade in US goods and services with Vietnam totalled US$62.6 billion in 2018, making Vietnam the United States' 17th-largest goods trading partner.


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