Border trade decree opens new doors to region

In a newly issued decree, the Government has made a clear effort to boost inland border-trade quotas and the overall trading situation for Vietnamese residents living in the border areas next to Viet Nam, China, Laos and Cambodia. Data from the General Department of Viet Nam Customs states that in 2017, Viet Nam’s trade turnover with Laos was above US$890 million, while the turnover with Cambodia was $3.7 billion, and with China, a staggering $71.9 billion. With the Decree No 14 coming into effect on January 23, trading activities performed by border residents and licensed traders are expected to be significantly improved. Most importantly, the decree stipulates that goods traded and exchanged by border residents for direct consumption are not subject to medical quarantine, such as animals, plants and aquatic products, unless the competent State body warns of an epidemic or contagious disease. Therefore, goods consumed by border residents are not subject to inspection and control in terms of food quality and safety, except for emergencies requiring immediate quarantine, when they must comply with international treaties. The decree stipulates that Vietnamese traders, including enterprises, co-operatives, business households and individuals with Vietnamese business registrations are allowed to buy, sell and trade goods along the border and via border checkpoints. Businesses with foreign-direct-investment capital, companies and branches of foreign companies in Viet Nam are also allowed to purchase and exchange goods across the border in accordance with national Law on Foreign Investment Management and any international treaties to which Viet Nam is… [Read full story]

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