Use official export quota, minimize cross-border trading risks: ministry
Use official export quota, minimize cross-border trading risks: ministry
The Ministry of Industry and Trade has advised enterprises to export goods to China using the official quota to reduce risks in non-quota border trade.
Containers from China line up at a border gate in Lang Son on August 24, 2019. Photo by VnExpress/Thanh Tuyen
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The advice comes in the wake of new regulations issued by China on cross border trade. It noted in a document issued Friday that exporting goods according under the official quota mode and signed contracts allows for quicker customs clearance.
Meanwhile, goods exported outside quotas without contracts have to undergo strict and lengthy inspections, making it easy for cargo to get stuck at border gates, it said.
Under the non-quota mode, Vietnamese firms usually drove cargo laden trucks across the border to China, sold the goods and returned to Vietnam. Under new regulations issued by China, Vietnamese trucks should park in transit areas, and Chinese drivers will deliver the merchandise.
The new rules were issued issued after China found some Covid-19 cases linked to Vietnamese drivers passing through the Tan Thanh Border Gate in the northern province of Lang Son.
The new regulations have resulted in slower delivery of goods and higher transportation costs for Vietnamese firms.
Besides shifting to the official quota mode where possible, the ministry has advised enterprises in Vietnam to better coordinate with their buyers in classifying, packaging and stamping agricultural products.
In other words, firms and individuals should engage in cross border trade when there is a clear agreement with buyers as also clear addresses for salers.
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 General Statistics Office.
