Vietnam: What are the responsibilities of leading exporters under rotation mechanism?

16:17, 11/10/2018

Recently, the Ministry of Finance of Vietnam issued Circular No. 30/2018/TT-BTC elaborating a number of articles of the Government's Decree No. 107/2018/ND-CP on rice export.

Circular No. 30/2018/TT-BTC of the Ministry of Finance of Vietnam, leading exporters under rotation mechanism will have different responsibilities depending on whether they have signed a centralized contract or not. To be specific:

1. Leading exporters that enter into centralized contracts under the rotation mechanism shall:

- Discharge responsibilities mentioned in Clause 4 Article 19 of Decree No. 107/2018/ND-CP of Vietnam’s Government.

- Supply 2/3 of the rice quantity which the in-charge exporters as designated fail to supply.

2. Leading exporters that do not enter into centralized contracts under the rotation mechanism shall:

- Cooperate with leading exporters that directly enter into centralized contracts and the Vietnam Food Administration in formulating rice export or bidding plans.

- Cooperate with leading exporters that directly enter into centralized contracts in monitoring market developments and issues concerning the bidding; discuss with the Vietnam Food Administration about rice export or bidding plans.

- Prepare rice products for exporting under centralized contracts; perform the signed centralized contracts together with leading exporters that directly enter into those centralized contracts.

- Supply 1/3 of the rice quantity which the in-charge exporters as designated fail to supply.

Circular No. 30/2018/TT-BTC of the Ministry of Finance of Vietnam takes effect from November 15, 2018.

- Thanh Lam -

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