THEORITICAL REVIEW
Definition
Over the past 60 years, the importance of tariffs and significant nontariff barriers, such as import quotas, has diminished Countries and regions have increasingly prioritized trade facilitation to enhance the benefits of international trade, which is seen as essential for unlocking further economic gains The concept of 'trade facilitation' has been a recurring theme in international discussions and gatherings.
Until recently, there was no universally accepted definition of trade facilitation Various international organizations have focused on different aspects of this concept, emphasizing the importance of coordination and the transparent, systematic, and efficient implementation of trade rules that govern the movement of goods in the global supply chain Generally, trade facilitation encompasses policies and processes aimed at reducing the cost, time, and uncertainty involved in international trade, while explicitly excluding traditional trade instruments like tariffs and import quotas The primary goal of trade facilitation is to streamline processes and lower transaction costs in international trade, all while ensuring effective government oversight.
With the implementation of trade facilitation, all three parties involved in trade activities would earn benefits:
- Governments would earn higher revenues from reduced frauds;
- Enterprises would be more efficient and lift their profit levels;
=> Trade facilitation would encourage trade flows and sustainable growth, lower unnecessary costs and improve business climate.
Basic Principles
Trade facilitation principles are founded on "The Four Pillars," which encompass Transparency, Simplification, Harmonization, and Standardization A thorough understanding of these principles requires an in-depth exploration of each dimension within "The Four Pillars."
Transparency in trade facilitation involves enhancing the openness and accountability of government actions and administration It is essential that information is made available in a format that is easily accessible, understandable, and usable by the general public.
The article emphasizes the importance of transparency in governance, stating that all laws, regulations, budgets, and procurement decisions must be publicly disclosed without any hidden processes It advocates for the inclusion of relevant stakeholders and the general public in the legislative process, encouraging them to share their opinions on proposed laws before they are enacted.
Next, simplification is to eliminate all unnecessary elements and duplications in trade formalities, processes and procedures
Harmonization involves aligning national procedures, operations, and documentation with international conventions, standards, and practices This alignment can occur through the adoption and implementation of uniform standards among partner countries, often driven by regional integration efforts or strategic business decisions.
Lastly, standardization is the process of developing formats for practices and procedures, documents and information internationally agreed by various parties.
Standards are then used to align and, eventually, harmonize practices and methods.
To achieve the maximum efficiency of these principles, full cooperation between government authorities and the business community is essential.
LEGAL FRAMEWORK
Overview of situation in Hong Kong
Hong Kong, China, stands as a premier global financial and logistics hub, thriving on a foundation of free enterprise, free trade, and a robust legal framework Since becoming a Special Administrative Region of the People's Republic of China in 1997, it has demonstrated remarkable resilience during economic downturns Key contributors to its economic growth include private consumption, logistics and business services, financial services, real estate development supported by public infrastructure, and tourism Furthermore, Hong Kong has reaped the rewards of its ongoing economic integration with mainland China's expanding economy.
Hong Kong is a free port with no customs tariffs and minimal excise duties, making it an attractive strategic platform for global businesses It operates under a robust rule of law and upholds property rights, ensuring a favorable environment for investment With a high degree of autonomy in most areas except foreign affairs and defense, Hong Kong maintains its own common law legal system, currency, and customs jurisdiction The region offers abundant business opportunities, leveraging its financial expertise, advanced infrastructure, and proximity to mainland China's manufacturing base.
Hong Kong, as a special administrative region of China, benefits from enhanced access to the mainland market through the Closer Economic Partnership Arrangement (CEPA) This agreement provides Hong Kong's products and businesses with preferential treatment, surpassing China's World Trade Organization (WTO) commitments by eliminating tariffs and offering early or preferential access to various service sectors, which also allows overseas companies to capitalize on these advantages.
To sum up, the key characteristics of Hong Kong’s economic environment can be described as follows:
● no restrictions on inward or outward investment;
● no nationality restrictions on corporate or sectoral ownership;
2.1.2 International Trade in Hong Kong
Hong Kong's economy is considered a model of capitalism due to its commitment to free trade, with foreign trade representing 375.1% of its GDP (World Bank)
● electrical apparatus for line telephony,
Hong Kong ranks among the world's leading trade hubs, being one of the top nine exporters and top seven importers globally Key export destinations for Hong Kong include China, the United States, India, Japan, and Thailand, while its main import sources are China, Singapore, and Japan, according to UNCTAD data.
In 2017, the total value of exports amounted to 188% of GDP, while imports reached 187.1% of GDP, resulting in a positive trade balance of USD 3.092 billion, according to the World Bank This sustained growth in foreign trade has been significantly influenced by the expansion of the Chinese economy.
Hong Kong imposes no tariffs on imported goods and only applies excise duties on four specific commodities: hard alcohol, tobacco, hydrocarbon oil, and methyl alcohol Additionally, the region does not enforce quotas or dumping laws, promoting a free trade environment.
Imports of Goods and Services (Annual %
Figure 2.1 Hong Kong’s foreign trade indicators
Source: WTO – World Trade Organization; World Bank
Hong Kong's open economy, while beneficial, makes it susceptible to fluctuations in the global economic landscape Its dependence on foreign trade and investment renders it vulnerable to potential financial market volatility and a slowdown in the global economy.
Growth will remain strong in 2019; but will decelerate slightly owing to external headwinds The slowdown in the Chinese economy and the global trade war will weaken trade growth (Coface)
Figure 2.2 Merchandise and Services Trade Growth
Source: GovHK Political Instabilities and the Impact on International Trade
In 2019, Hong Kong faced a technical recession marked by sluggish growth driven by a lack of innovation, increasing housing unaffordability, and rising income inequality The introduction of the Fugitive Offenders and Mutual Legal Assistance in Criminal Matters Legislation (Amendment) Bill 2019 jeopardized Hong Kong's reputation as a global trading hub, sparking widespread protests as citizens expressed concerns over their freedoms, leading to significant unrest.
Despite the government's official withdrawal on October 23, protests continue to erupt, raising concerns about Hong Kong's government’s capacity to safeguard its freedoms against Mainland China's political influence These ongoing demonstrations may heighten fears that the gradual loss of autonomy from China could undermine Hong Kong's status as a leading financial center.
Trade Facilitation in Hong Kong
Hong Kong is ranked in high position in many terms and fields:
● the first in terms of economic freedom (2019 Index of Economic Freedom, Heritage Foundation)
● The third in terms of its business environment (The Economist - Business Environment Rankings 2014-2018)
Hong Kong's leading global rankings reflect the government's commitment to fostering a business-friendly environment, reinforcing its status as the world's premier free trading hub.
Hong Kong is very open to global trade and investment as suggested by the aforementioned statistics
● The combined value of exports and imports is equal to 375.1 percent of GDP
● The average applied tariff rate is 0.0 percent
● As of June 30, 2018, according to the WTO, Hong Kong had 149 non-tariff measures in force
● The financial regulatory environment focuses on ensuring transparency and enforcing prudent minimum standards
● There are no restrictions on foreign banks
● There is no protection or subsidization of manufacturers in Hong Kong.
The Hong Kong Government aims to foster a business-friendly environment within a free market economy by ensuring macro-economic stability, maintaining a low and straightforward tax system, and providing excellent infrastructure Additionally, it invests in education, training, and human resources while effectively safeguarding individual and property rights through a robust legal framework.
Hong Kong's economy is heavily reliant on international trade, making the development of trade policies through the WTO crucial for its external trade and overall industry and employment (GovHK, 2016) In December 2014, Hong Kong, China became the first WTO member to ratify the Trade Facilitation Agreement (TFA) and officially deposit its acceptance with the WTO Secretariat (WTO, 2015) The Hong Kong government also informed the Preparatory Committee of its commitment to implement all provisions outlined in Articles 1 through 12 of the Agreement upon its entry into force (WTO, 2014).
According to the WTO Trade Policy Review by the Secretariat (2014), Hong Kong operates a duty-free tariff regime based on the Most Favored Nation (MFN) principle and boasts some of the fastest and most efficient Customs procedures globally, with nearly all Customs declarations processed electronically in its free-port The report highlights that customs valuation is primarily utilized for collecting excise duties on four specific products: liquors, tobacco, hydrocarbon oil, and methyl alcohol, as well as a first registration tax on motor vehicles.
Through researching Hong Kong’s trade facilitation status, it is found that advanced measures of trade facilitation were eagerly implemented.
Trade Procedures and Documents in Hong Kong
Recent studies by global organizations such as the World Bank, OECD, ADB, and UNCTAD indicate that customs and administrative procedures significantly impact trade flows between nations These practices often serve as major obstacles to international trade, especially as tariffs and quantitative barriers diminish In response to the need for enhanced international trade and globalization, Hong Kong has made notable advancements in its trade liberalization efforts.
Specific Law and Legislation related to Hong Kong’s Trade Facilitation in Procedures and Documents
In April 2016, the Hong Kong Government released a consultation paper on the "Single Window" initiative, highlighting its potential to save time and costs for the trading community by streamlining interactions with various government departments The initiative also enables traders to monitor the status of their applications and submissions around the clock through the "Single Window" platform (GovHK, 2016).
The Trade Single Window (TSW) is an integrated electronic platform that allows registered users to submit import and export trade documents online to the Government of the Hong Kong Special Administrative Region.
The Trade Single Window initiative by the Government of Hong Kong is set to be implemented in three phases Phase 1, which commenced in late December 2018 and continued into mid-2019, allows for the submission of specific documents through the Trade Single Window system.
- Authorization to Import/Export Controlled Chemicals
- Import/Export Licence for Pesticides
- Licence for Ozone Depleting Substances
- Permit to Remove Controlled Chemicals in Transshipment
- Transshipment Notification for Optical Disc Mastering and Replication Equipment
● Hong Kong Authorized Economic Operator (AEO) Programme
The Hong Kong Authorized Economic Operator (AEO) programme establishes a partnership between customs and businesses to improve international supply chain security while facilitating the movement of legitimate goods This initiative strengthens Hong Kong's position as a key transit hub in global trade.
In April 2012, Hong Kong officially launched the Authorized Economic Operator (AEO) Programme, aimed at granting accredited trader status to local companies that meet specific security criteria According to the World Trade Organization's "Trade Policy Review" of Hong Kong, this initiative enhances trade facilitation and security for compliant businesses.
Companies accredited under the AEO Programme are recognized by the Customs and Excise Department as trusted operators, benefiting from customs facilitation like reduced inspections and prioritized cargo clearance This accreditation establishes them as reliable partners in securing the global supply chain The program is accessible to all stakeholders in the international supply chain, including manufacturers, importers, exporters, freight forwarders, warehouse operators, and carriers, with no accreditation fee required.
The Government of Hong Kong, to speed up and facilitate international trade, has launched several electronic cargo clearance platforms to support the cargo industries in terms of Customs clearance.
Air Cargo Clearance System (ACCS) is for the air cargo industry in the Hong Kong International Airport with the following features:
- specially designed to speed up the clearance process of air cargo;
- system to provide direct interaction between Customs and cargo operators for the exchange of cargo data and Customs clearance instructions;
- covers clearance of all types of air cargoes.
❖ Electronic System for Cargo Manifests
The Electronic System for Cargo Manifests (EMAN) streamlines the submission process for air, ocean, and river cargoes, allowing carriers to electronically submit cargo manifests to the Customs and Excise Department, the Census and Statistics Department, and the Trade and Industry Department simultaneously.
Additionally, the Customs and Excise Department of the Government of Hong Kong introduced an electronic Road Cargo System (ROCARS) in 2010
ROCARS allows registered shippers and their authorized agents to electronically submit advanced cargo information for road shipments, enabling Customs officers to access this data prior to the goods reaching land borders This system facilitates computer-based risk profiling by the Customs and Excise Department, helping to assess the need for inspections in advance As a result, truck drivers experience efficient and expedited Customs clearance when transporting road cargo across land boundary control points.
ROCARS enhances the efficiency of transshipment cargoes by facilitating inter-modal transfers, including transitions between land, air, and sea transport, as part of the Intermodal Transshipment Facilitation Scheme (ITFS).
The Customs and Excise Department is responsible for protection and collection of revenue on four types of dutiable commodities which are liquors, tobacco, hydrocarbon oil and methyl alcohol.
❏ For liquors, duties are generally assessed according to their alcoholic strength and values
❏ For tobacco, hydrocarbon oil and methyl alcohol, duties are charged at specific rates per unit quantity.
❖ E-Sea Customs Clearance Scheme (e-SCC Scheme)
Hong Kong has furthered its trade incentives by reducing its Customs declaration fees and adopting other trade facilitation measures such as the Hong Kong Facilitation
Scheme for Cross-Strait Transshipment Cargoes and the e-Sea Customs Clearance Scheme (e-SCC Scheme) (WTO, 2014)
The e-SCC Scheme, recently introduced by Customs, seeks to streamline Customs clearance processes by offering an electronic channel for sea freight forwarders This initiative allows them to submit advance house bill of lading information efficiently using Excel or CSV files.
➢ To provide an electronic means for house level information submission;
➢ To simplify the existing house level cargo information procedures
➢ To avail handy information for Customs to conduct risk.
❖ Intermodal Transshipment Facilitation Scheme (ITFS)
In November 2010, Hong Kong Customs (C&ED) introduced the Intermodal Transshipment Facilitation Scheme (ITFS) alongside the Road Cargo System (ROCARS) to streamline the clearance process for air-land and sea-land transshipment cargoes.
The Customs and Excise Department (C&ED) utilizes electronic advance cargo information, electronic locks (e-locks), and Global Positioning System (GPS) technology to effectively monitor transshipment cargo transported by participating trucks within the territory under the ITFS.
Transshipment cargoes selected for inspection typically undergo a single check at either the entry or exit point This streamlined process minimizes redundant inspections, thereby facilitating a quicker movement of transshipment cargoes.
EVALUATION
Evaluating basing on principles
Based on the three principles of trade facilitation, the Trade procedures and documents in Hong Kong will be evaluated as follows:
Figure 3.1 Principles in Trade Facilitation
Hong Kong has streamlined its trade procedures, significantly minimizing the time and effort required for customs clearance and import/export documentation Key technological initiatives, such as the Trade Single Window, Electronic Cargo Clearance Platforms, and the Intermodal Transhipment Facilitation Scheme, exemplify this simplification by eliminating unnecessary paperwork and enhancing efficiency.
The efficiency of trade procedures is significantly influenced by the number of required documents In Hong Kong, traders must prepare approximately 3 to 4 documents to comply with regulatory requirements for imports and exports This trend is also evident during the preparation of export documentation Typically, the time needed for customs clearance and technical control is about four times shorter than the time spent on document preparation.
Harmonization: As an active member of many international organizations such as United Nations, Asia-Pacific Economic Cooperation, World Trade Organization,etc.
Hong Kong has synchronized its national procedures and documentation with global conventions and standards, ensuring compliance with international practices The Hong Kong Customs permits importers to declare values based on invoice amounts, aligning with WTO Agreements Additionally, Hong Kong updates its Imports and Exports Classification List (Harmonized System) annually to reflect international requirements and adapt to significant changes in trade patterns and technology.
Hong Kong has successfully implemented the Trade Single Window, a trade facilitation program endorsed by key international organizations including the United Nations, World Customs Organization, World Trade Organization, and Asia-Pacific Economic Cooperation This initiative is guided by the UN/CEFACT Recommendation 33, which outlines the recommendations and guidelines for establishing a Single Window system to streamline trade processes.
- Different technological and organizational models of a Single Window,
- Benefits to both traders and public administration,
- Possible services of a Single Window.
Standardization plays a crucial role in trade facilitation programs in Hong Kong, particularly in streamlining trade procedures and documents A prime example is eTradeConnect, a blockchain-based platform that digitizes trade documents and automates finance processes, enhancing efficiency for all stakeholders The initial involvement of the government is vital for establishing consistent rules and standards, ensuring that all regulatory requirements are clearly outlined in a centralized database to prevent misunderstandings By standardizing the information necessary for trade document processing, the platform allows for easier data reuse, significantly reducing the effort required for data input.
Impacts on trading partners
New technology enables centralized online document management, significantly lowering costs by eliminating expenses related to printing, transporting, and correcting paper documents This modernized approach also reduces time delays, streamlining processes and enhancing efficiency compared to traditional methods.
-Faster customs clearance and release through predictable official intervention:
Standardization and harmonization have enabled traders to prepare necessary documents in advance, significantly streamlining customs procedures From 2006 to 2013, the export time was reduced from 13 days to just 5 days, while import time decreased from 17 days to 5 days Currently, Hong Kong ranks among the countries with the fastest customs procedures, with the 5-day timeframe encompassing document preparation, customs clearance and technical control, ports and terminal handling, as well as inland transportation and handling.
-Simpler commercial framework for doing both domestic and international trade:
The streamlining of trade procedures and documentation in Hong Kong enhances domestic commerce while aligning with international standards, alleviating concerns for traders about potential conflicts between national and foreign trade regulations.
Modernizing trade-related procedures by transitioning them to an online platform can significantly enhance the competitiveness of traders in Hong Kong Inefficient processes often delay product delivery to international markets, hindering manufacturers and exporters from meeting the "just-in-time" demands of their overseas customers By streamlining these procedures, businesses can improve their operational efficiency and responsiveness, ultimately boosting their competitive edge in the global marketplace.
The implementation of automatic data storage and system updates significantly enhances the effectiveness of control methods for government authorities By enabling easy online access to essential information, these advancements streamline the review process Furthermore, the transition to paperless documentation facilitates smoother and more efficient operations, allowing data to be reused whenever needed in the future.
● More efficient deployment of resources: The simplification as well as modernization of procedures and documents in Hong Kong can save manual work.
Less staff needed for a position, hence the deployment of resources will be more efficient When the Trade Single Window is launched in Hong Kong, its has an
Corruption has historically plagued traditional administrative procedures, undermining professional ethics and resulting in the loss of public property, while tarnishing the image of government operations However, transitioning to online submission and processing eliminates opportunities for corruption, ensuring accurate revenue generation for the country.
Simplifying, standardizing, and harmonizing trading rules will enhance trader compliance, as it encourages adherence to regulations and minimizes the likelihood of errors during the trading process.
Foreign investment is significantly influenced by a country's efficiency and cost-effectiveness in importing and exporting goods and services The 2019 World Investment Report by UNCTAD highlights that Hong Kong attracted USD 115 billion in foreign direct investment (FDI) in 2018, marking a 4% increase from 2017 and solidifying its position as the third-largest recipient of FDI globally A key factor driving this growth in FDI is the Hong Kong government's implementation of facilitation methods aimed at enhancing trade procedures and documentation.
RECOMMENDATION FOR VIETNAM
Single Window Implementation
Since November 2014, Vietnam has been advancing one-stop inspections through the National Single Window (NSW), involving nine ministries, including the Customs Administration under the Ministry of Finance The NSW has effectively implemented a testing system for receiving messages related to cargo and passengers, integrating with airline systems A key takeaway from Vietnam's successful implementation of the NSW, utilizing the Digital Trade and Transportation Network (DTTN), is the importance of commitment at the highest level.
For the successful development and implementation of the NSW system, it is crucial for the government to secure high-level commitment for change and computerization, while also promoting trade facilitation Additionally, the establishment of specialized committees is essential to oversee and manage specific tasks effectively.
The Steering Committee will address key policy matters and establish a strategic direction for the sub-committees, guiding them in developing procedures and implementing the new system This approach aims to secure private sector support and facilitate the effective utilization of the system once it is fully developed.
The steering committee should set up a series of sub-committees comprising of representatives from both the public and private sectors to look into 3 following tasks:
- Simplification of Documentation and Procedures
- Data Administration c Choose Technical Service Providers carefully
To foster competition, the government will choose several service providers to create software for system operation These software developers will market and sell their products and services to businesses based on their quality and performance Additionally, they will offer training and technical support to ensure customers can efficiently use the system, leading to a clear and phased implementation process.
To achieve success, the government should adopt a phased approach to implementing the NSW system This strategy requires robust collaboration among all stakeholders involved in the rollout of a scaled-down integrated system, which can later expand to full-scale implementation Additionally, the establishment of Document Service Centres will be essential in facilitating this process.
Establishing document service centers is essential for the successful implementation of the new system, particularly for small and medium-sized enterprises (SMEs) that may lack the daily volume needed to invest in a computer system for trade preparation and submission.
Customs documents For such enterprises, the government should encourage the use of document service centres.
Overall recommendation
Vietnam's customs administration faces significant challenges, including slow processes, unpredictability, and corruption, which hinder trade and private sector growth Companies encounter complex administrative procedures and corrupt practices among customs officials, leading to lengthy import and export processes To address these issues, there is an urgent need for a comprehensive reform program that standardizes and simplifies these procedures in line with international standards, particularly to align with the World Trade Organization's Trade Facilitation Agreement (TFA).
In 2019, the United States Agency for International Development (USAID) launched a five-year trade facilitation program in Vietnam, funded with over $21.7 million, aimed at reducing trade time and costs This initiative collaborates with the General Department of Vietnam Customs (GDVC) to enhance the effectiveness of the National Trade Facilitation Committee (NTFC) and its working groups Key objectives include improving specialized inspections, fostering customs-to-business partnerships, standardizing export and import policies, strengthening coordination at national and provincial levels, and enhancing the skills of provincial customs officers.
Clear regulations are essential to enhance the movement of goods, while increased training and engagement of customs officials in the reform process can help reduce corruption Additionally, the customs administration must shift from overseeing nearly all shipments to adopting a trade-facilitative approach Inconsistent law enforcement and poor implementation create significant challenges for businesses.
Furthermore, the creation of a simpler import process would be highly appreciated by the companies and will result in more integration into international supply chains
Vietnam's inadequate transportation infrastructure is hindering business operations and impeding economic growth An efficient customs service must be supported by a robust transport network and regulatory framework Upgrading Vietnam's transport system is essential, as congested ports are a barrier to the country's integration into the global economy A reliable transportation network and effective communication facilities are crucial for companies looking to boost their export capabilities.
Hong Kong's commitment to free market policies is crucial for its economic consistency, with the overarching goal of promoting free trade impacting all sectors, including customs, transportation, logistics, and infrastructure.
As the case of Hong Kong clearly illustrates, governmental willingness is the most influential factor in expediting each trade facilitation provision
To fully harness the benefits of trade facilitation, Vietnam must prioritize the simplification and reform of its administrative procedures while enhancing their efficiency through improved infrastructure By taking inspiration from Hong Kong's commitment to the immediate implementation of the WTO Trade Facilitation Agreement (TFA), Vietnam should work to align policy with practice across all governmental bodies Enhancing the execution of trade facilitation measures and boosting trade capacity will enable Vietnam to realize its maximum growth potential and strengthen its position in the global market.
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