Local media have reported that some businesses are at risk of losing shipments of peppercorn, cinnamon, star anise, and cashew nuts to UAE due to trade fraud allegations.

In Official Dispatch No. 693/CD-TTg dated July 31, 2023, he asked the Ministry of Foreign Affairs to coordinate with the Ministries of Industry and Trade, Justice, Agriculture and Rural Development, and Transport, and the State Bank of Vietnam to direct the Vietnamese Embassy in the UAE to work closely with the host country’s relevant bodies on a case involving four lost containers of farm produce. The move aims to secure the legitimate rights and interests of Vietnamese businesses in line with international and the host country’s laws.

Local media recently reported that some members of the Vietnam Pepper Association (VPA) are at risk of losing their shipments of peppercorn, cinnamon, star anise, and cashew nuts to the UAE due to trade fraud.

According to a VPA report, four shipments worth $400,000 were lost in the port of Jebel Ali, UAE, while another shipment of star anise, which was due to dock on July 26, is likely facing a similar situation. The Official Dispatch states that, in the short term, it is necessary to ask the UAE side to take urgent measures to protect the star anise container.

The Ministry of Industry and Trade should work with the VPA and Vietnamese representative offices abroad to advise businesses to regularly inform relevant authorities so they may verify and thoroughly appraise foreign partners before signing transactions, to avoid risks related to disputes and fraud.

It is also necessary to establish associations connecting Vietnam’s farm exporters with the UAE’s importers and distributors, to improve information exchange and address fraud as well as settle trade disputes.

Source: VnEconomy