Govt eases export of finished wood products
Govt eases export of finished wood products
All finished wooden products destined for export will be exempt from the payment of special royalties according to a notice issued by the Ministry of Finance at the beginning of this month.
The Ministry of Finance has issued the notice to international customs checkpoints and customs inspection units in Vientiane and the provinces. The new ruling applies to both finished and semi-finished wood products.
The aim is to reduce the number of customs procedures and comply with an ordinance issued by the Ministry of Industry and Commerce concerning the export of finished and semi-finished wood produ cts.
The intention is to encourage greater production of finished wood products for export as well as increase the value of wood products.
The notice also applies to the export of finished products purchased at exhibitions or shops.
Semi-finished products, logs, sawn timber, roots, stumps and branches are still subject to the payment of special royalties.
Customs procedures will become more streamlined as a result of the new ruling.
Concerning the export of semi-finished products, customs officials will no longer issue documents or transfer notes. That duty will be assigned to international customs checkpoints that deal with the admini stration and inspection of exported wood products in line with the requirements of the Ministry of Industry and Commerce.
Customs officials at international borders in Vientiane and the provinces are advised to strictly implement this notice.
This information has not yet been received by the Lao Furniture Association but those in the business believe the new ruling will benefit their operations.
The production of more finished wooden items would help to improve skills and standards of work, bring in more revenue and expand Laos' regional markets, particularly among Asean members.
In the past, the production of furniture and wood products contributed to the country's economy through the generation of revenue, created job opportunities and developed skills in the field, according to the association.
Last year the government prohibited the export of logs and ruled that wood must be processed in Laos before being exported.
