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Minister of Industry and Trade Tran Tuan Anh and Ambassador of the Republic of Belarus in Vietnam, Vladimir Goshin, signed the Protocol. (Photo: Bao Moi)

The signing ceremony of the Second Amendment of the Protocol between the Government of Vietnam and the Government of the Republic of Belarus on supporting the production of motor vehicles in the territory of Vietnam took place at 15:00 on December 3. Authorized by the Government of Vietnam and the Government of the Republic of Belarus, Minister of Industry and Trade Tran Tuan Anh and Ambassador of the Republic of Belarus in Vietnam, Vladimir Goshin, signed the Protocol.

Following the FTA between Vietnam and the Eurasian Economic Union signed in 2015, the signing of the Protocol to support the production of motor vehicles in the Vietnamese territory between Vietnam and Belarus - a member of the Eurasian Economic Union in March 2016, created an essential framework for cooperation projects in the automotive industry between the two countries.

According to this Protocol, the MAZ car company of the Republic of Belarus and its Vietnamese partner established MAZ-Asia Joint Venture Company Limited to manufacture and assemble trucks and some specialized vehicles. On September 26, 2019, the joint venture's factory was inaugurated in Hung Yen province.

The two sides have agreed on measures to remove existing difficulties and problems and ensuring effective implementation of the Protocol. (Photo: VOV)

Ambassador Vladimir Goshin said that the opening of a car manufacturing joint venture enterprise in the territory of Vietnam demonstrated the desire of the Government of the Republic of Belarus to implement Belarus policies in the field of cooperation between the two countries, from trade to cooperation in the production of cars for consumption in Vietnam as well as other neighboring countries.

"The car production project in the Vietnamese territory is the first project in cooperation between the two countries, but I fully believe that there will be many further projects to be implemented in the future", Ambassador Vladimir Goshin confirmed.

In this second amendment, the two sides have agreed on measures to remove existing difficulties and problems of the joint venture, to ensure effective implementation of commitments between the two sides, which was stated in the 2016 Protocol, especially in the current complicated situation created by the Covid-19 pandemic.

The two sides also agreed to adjust the localization requirements to facilitate the production and assembly activities of the joint venture, in the spirit of ensuring the main directions in the Industry Development Strategy of the automobile industry to 2025, with a vision to 2035. Regulations on the origin of goods and the process of granting tariff quotas had also been adjusted to be more clear for the joint venture to effectively implement the Protocol.

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