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  • The Ministry of Industry and Trade recommends limiting the impact of the situation arising in the Red Sea area 01/01/2024

    Jan 1st, 2024

    Ministry of Industry and Trade recommends limiting the impact of the situation arising in the Red Sea area Recently, in the Gulf of Aden and Red Sea areas, ships carrying goods have been attacked, leading to a number of shipping companies issuing notices to stop transporting goods through the Red Sea area. , changed the schedule, changing direction to go around Africa's Cape of Good Hope. High standards of advice on preventing and controlling the impacts of natural disasters arising in coastal areas Illustration - Source: IT The above situation has a negative impact on international trade activities, making it take longer for goods to be transported by sea between Asia and Europe and the East Coast of North America. . Shipping and insurance fees for goods exchanged between these regions increase. The phenomenon of shortage of empty containers can occur locally. The Import-Export Department (Ministry of Industry and Trade) requests industry associations and associations in the logistics field to strengthen monitoring and regularly update the situation so that businesses in the industry can firmly grasp the information to proactively plan production. export and import of goods, avoiding congestion and other adverse impacts. The Import-Export Department recommends that import-export businesses closely monitor the situation, proactively make appropriate plans, and discuss with partners so that in case of necessity, the time for packing and receiving goods can be extended. Businesses seek and diversify supply sources to limit the impact on the supply chain. Learn about rail shipping for different delivery options. When signing and negotiating commercial contracts and transportation contracts, businesses should have provisions on compensation and liability exemption in emergency situations. It is necessary to purchase full insurance to prevent risks and losses when goods have to be transported for extended periods of time or encounter problems while traveling through this route. Associations and businesses promptly exchange and report with the Ministry of Industry and Trade and relevant ministries and branches on arising issues to coordinately handle them.