2016 Hanoi – ICC Short-term finance & Payment of international contract
Hanoi – CACCI successfully conducted three one-day workshops on International Contract of Sale in Practice & Short Term Trade Finance on March 21 in Hanoi, March 23 in Danang and March 25 in Ho Chi Minh City. The workshop was led by Mr. Pavel Andrle, an ICC member and a trainer and consultant in international trade and finance.
The Vietnam Chamber of Commerce and Industry (VCCI) hosted the workshops. The main topics of seminars were the main ICC trade tools – rules books and other publications which capture rules and best practices in the fields of international trade, finance and investment. The presentations covered, among other topics, ICC model contract of sale, Incoterms 2010, model agency and distributorship contracts, as well as ICC rules for trade finance (such as rules for documentary credits, demand guarantees, standby letters of credit, forfaiting).
Mr. Andrle, during his lecture, focused on the new developments and updates, as well as the practical usage of the ICC rules and services, including combating financial crime, dispute resolution such as arbitration and mediation, in the context of the new free trade agreements which Vietnam has recently signed – the Trans Pacific Partnership Agreement (TPP) and the EU–Vietnam Free Trade Agreement (EVFTA). The second part of the workshops focused primarily on the TPP and the EVFTA, familiarizing the participants with the goals, principals and scope of these significant trade agreements.
The agreements, when they come into force, will provide mayor boost to economy of Vietnam, opening new markets and opportunities for Vietnamese exporters and importers. They will provide not only enhanced market access but also enhanced environment for foreign investment, stronger protection of IP rights, wide-ranging commitments on government procurement, regulatory quality, environmental protection.
Vietnam is poised to be a major beneficiary of both the TPP and EVFTA agreements. Taking into account the significance of the agreements for the further development of the Vietnamese economy, all the three events were well attended. The workshop in Hanoi was attended by more than 90 participants, about 20 people attended the workshop in Danang, and more than 80 representatives joined the Ho Chi Minh City event.