Use official export quotas, minimize cross-border trade risks: ministry

0

By Anh Minh August 22, 2021 | 13:36 GMT + 7

Containers from China line up at a border post in Lang Son on August 24, 2019. Photo by VnExpress / Thanh Tuyen

The Ministry of Industry and Trade has advised companies to export goods to China using the official quota to reduce the risks of border trade without quota.

The notice comes in the wake of new regulations issued by China on cross-border trade. He noted in a document released on Friday that exporting goods under official quota mode and signed contracts allows for faster customs clearance.

Meanwhile, goods exported outside of quotas without a contract must undergo strict and lengthy inspections, making it easy for goods to get stuck at border gates, he said.

Under quota-free mode, Vietnamese companies would typically drive trucks loaded with goods across the border to China, sell the goods, and return to Vietnam. Under new regulations issued by China, Vietnamese trucks must park in transit areas and Chinese drivers deliver the goods.

The new rules were released after China discovered cases of Covid-19 linked to Vietnamese drivers passing through the Tan Thanh border gate in northern Lang Son province.

The new regulations have resulted in slower delivery of goods and higher transportation costs for Vietnamese businesses.

In addition to switching to official quota mode where possible, the ministry advised Vietnamese companies to better coordinate with their buyers to grade, package and stamp agricultural products.

In other words, businesses and individuals should engage in cross-border trade when there is a clear agreement with buyers as well as clear addresses for sellers.

China was Vietnam’s second-largest export market in the first seven months with a value of $ 28.7 billion, up 24 percent year-on-year, according to the General Bureau of Statistics.


Source link

Share.

Leave A Reply