On the sidelines of the World Chambers Congress, ICC’s World Chambers Federation General Council approved the admission of the Viet Nam Chamber of Commerce and Industry into the ICC ATA Carnet Guarantee Chain during its meeting in Dubai, following a recommendation made by the World ATA Carnet Council (WATAC).
This marks the latest step for the implementation of the ATA Carnet system for the country and operations are scheduled to begin on 1 May 2022. The scope of application covers goods for display or use at exhibitions, fairs, meetings or similar types of events.
WATAC Chair Ruedi Bolliger said: ‘Vietnam had long been a desired destination of ATA Carnet users worldwide and businesses may now finally benefit from the advantages of the ATA Carnet in the Southeast Asian country. The admission also allows Vietnam to further integrate into the global economy, empowering its local firms with greater facilitation in their business missions abroad.”
The ATA Carnet is an international customs document that allows for the duty- and tax-free temporary import of goods for up to one year. Carnets are particularly useful for businesses wanting to temporarily import professional equipment for projects and events, provide samples to customers or exhibit at trade fairs. They improve opportunities for businesses by reducing customs procedures and minimising heavy deposits.
WATAC is the ICC working body responsible for administering the International Guarantee Chain for ATA Carnets. The Chain includes chambers and business organisations that have been appointed by their national customs authorities to issue and guarantee Carnets.
The Federation of Saudi Chambers is expected to join the ATA Chain in the near future.