Temporary importation of monazite ore and monazite concentrate temporarily suspended in Vietnam from May 13, 2024, to December 31, 2027

Temporary importation of monazite ore and monazite concentrate temporarily suspended in Vietnam from May 13, 2024, to December 31, 2027

From May 13, 2024, to December 31, 2027, the temporary import and re-export trade of Monazite ore and concentrate (classified under group 26.12, code 2612.20.00) will be suspended.

Applicable entities include:

- Traders engaging in the temporary import and re-export trade of Monazite ore and concentrate.- Agencies, organizations, and individuals related to the temporary import and re-export trade of Monazite ore and concentrate.

See Circular 05/2024/TT-BCT effective from May 13, 2024, to December 31, 2027.

Temporary import and re-export trade is regulated under Article 39 of the Foreign Trade Management Law 2017 as follows:

- Traders buying goods from one country bringing them into Vietnamese territory or from a special customs area into the domestic market and selling the same goods to another country or special customs area shall proceed as follows:

+ Traders must have a temporary import and re-export trade permit for goods listed in the categories of goods prohibited from export, import; temporarily suspended from export, import; goods not yet authorized for circulation, use in Vietnam; goods subject to quota management, export-import licenses;

+ Traders engaging in temporary import and re-export trade must meet the conditions defined for goods in the conditional import-export business;

+ Traders engaging in temporary import and re-export trade only need to perform procedures at the customs office at the border gate for goods not covered in points a, b of this clause, and Article 40 of the Foreign Trade Management Law 2017.

- Goods engaged in temporary import and re-export trade can only remain within the territory of Vietnam for a specified period.

- Goods engaged in temporary import and re-export trade must undergo customs procedures upon importation into Vietnamese territory and be subject to inspection and supervision by customs authorities until re-exported out of Vietnamese territory.

- The sale of goods engaged in temporary import and re-export in the domestic market must comply with the import goods management regulations of the Foreign Trade Management Law 2017 and other relevant laws.

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