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The regulation, approved by the European Commission (EC) on May 16, 2023, is the latest by the EU regarding green, sustainable development, specifically deforestation-free agricultural products.
It sets mandatory due diligence rules for all operators and traders who place, make available or export the following commodities from the EU market: palm oil, cattle, wood, coffee, cocoa, rubber and soy.
The rules also apply to a number of derived products such as chocolate, furniture, printed paper, and selected palm oil-based derivatives (used for example as components in personal care products).
They will be applicable to most companies from December 2024. Micro-enterprises and small-medium enterprises would have an additional six months to comply with the regulation's requirements.
Binh Phuoc's key products like rubber, cashew nuts, coffee, pepper, durian, and wood and wood products are expected to be impacted by the requirements.
Under the document, the chairwoman of the provincial People's Committee Tran Tue Hien asked relevant agencies, localities, organizations and individuals to closely monitor risk-prone areas, and step up inspections over forest protection.
Hien also suggested agencies and localities receive or build and recognize the national database on natural and man-made forests, which, he said, should be used as the basis to identify the areas at risk of deforestation at different levels, thus setting forth proper solutions in forest management.
The committee also emphasized traceability across supply chains, and livelihood support for farmers, especially ethnic minority groups and poor residents in the areas interspersed with or near forests, and remote areas to meet the EU requirements.
