Law on Foreign Trade Management 2017: Vietnam’s regulations on export and import quotas

Nguyen Trinh

14:57, 29/08/2018

Export/import quota is a restriction imposed by the competent authority on the quantity, volume and value of Vietnamese exports/imports.

According to Article 18 of the Law on Foreign Trade Management 2017 of Vietnam, the export quota and import quota will be imposed if one of the following conditions is satisfied:

One, the export or import quota is imposed according to international treaties to which the Socialist Republic of Vietnam is a signatory.

Two, products are used for ensuring the balance and growth of the economy for certain periods.

Three, an importing country imposes the import quota on Vietnamese exports.

The imposition of export or import quotas shall ensure:

- The transparency of the production and value of products;

- The transparency and objectiveness of measures for the allocation of export and import quotas.

The power to impose export quotas and import quotas is prescribed as follows:

- The Minister of Industry and Trade shall take charge and cooperate with relevant Ministries, ministerial authorities, other organizations and individuals in deciding the imposition of export and import quotas.

- The Ministry of Industry and Trade shall publish products that are subject to export or import quotas.

View more details at: The Law on Foreign Trade Management 2017 of Vietnam was promulgated on June 12, 2017 and officially effective from January 01, 2018.

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