Logistics conference explores Vietnam, Bangladesh int’l trade

The aim of the two-day conference running through April 22 is to provide the 200 delegates in attendance insights into the practical and theoretical underpinnings of logistics and international trade.

“It also hopes to open new avenues for commercial trade between the two nations,” said keynote speakers at the opening.

The two-day conference has been organized by the Vietnam Chamber of Commerce and Industry (VCCI) in collaboration with the International Chamber of Commerce-Bangladesh (ICC-Bangladesh).

Speaking at the event, Hoang Quang Phong, vice president of VCCI, drew attention to the institutional advantages possessed by Vietnam, namely its free port status, low and simple tax regimes, quick and transparent custom trading procedures, which benefit its international trade.

The first day of the conference also featured speeches and insights on port-centric logistics, sustainable transport, technology and enterprise, challenges facing Vietnam ports, reverse trends in global manufacturing and others.

Sessions on transport and trade logistics and transport and trade finance and economics were also held, complete with technical discussions on guaranteeing payment for goods and services using letter of credit and electronic payments.

Vincent O’ Brien from the ICC got into the nuts and bolts of international trade finance including detailed in-depth discussion of terminology that is widely used in international commercial transactions and procurement processes.

Mr O’Brien also led a rather interesting discussion with the delegates addressing the most common ways of resolving international disputes related to payment or quality of product disputes in commercial transactions and practical measures to avoid them.

On the occasion, a temporary memorandum of understanding between the Vietnam International Arbitration Centre and Bangladesh International Arbitration Centre was signed to explore entering into a formal binding written contract to utilize arbitration as a dispute resolution procedure for the mutual benefit of the two nations.