Vietnam Changes Cross-border Trade Rules
Jayson 09 Oct 2024 08:02
On October 9, the Vietnamese government issued Decree No. 122 of 2024. From January 1, 2030, goods can only be imported and exported at international ports and major border ports.
The decree revised several provisions in Decree No. 14 of 2018, stipulating that from January 1, 2029, border residents must be present when cross-border buying and selling and exchanging goods. The new policy means that from 2030, Vietnam will stop small quota exports to the Chinese market.
At the same time, Decree No. 122 also adjusted the payment method for border trade, and cash payment is only applicable to transactions of border residents.
In addition, all cross-border traded goods must meet the legal standards, quality and traceability requirements of the importing country. This series of reforms will further standardize Vietnam's border trade activities and strengthen the management and control of import and export businesses.
The decree revised several provisions in Decree No. 14 of 2018, stipulating that from January 1, 2029, border residents must be present when cross-border buying and selling and exchanging goods. The new policy means that from 2030, Vietnam will stop small quota exports to the Chinese market.
At the same time, Decree No. 122 also adjusted the payment method for border trade, and cash payment is only applicable to transactions of border residents.
In addition, all cross-border traded goods must meet the legal standards, quality and traceability requirements of the importing country. This series of reforms will further standardize Vietnam's border trade activities and strengthen the management and control of import and export businesses.
