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Korea And Vietnam To Boost Customs Cooperation

by Mary Swire, for LawAndTax-News.com, Hong Kong

08 May 2008

Vietnam and Korea have pledged to increase cooperation between the two countries, in order to boost bilateral trade and reduce disputes in this area.

Reporting following the 12th Customs Cooperation Conference, held in Hanoi, Korea's official KOIS news service revealed that Korea Customs Service chief Hur Yong-Suk, and his Vietnamese counterpart, LE Manh Hun had pledged, to this end, to send representatives to each other's countries "as soon as possible".

"This year's meeting carries a very important meaning as it was the first gathering since both nations saw the FTA go into effect," Hur reportedly announced.

According to KOIS, the head of the Korea Customs Service called on the Vietnamese authorities to push forward with the retroactive enforcement of promised tariff cuts, arguing that this would benefit Korean companies in the country negatively impacted by a delay in their introduction.

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