In 2020 Vietnam will abolish sugar import quotas from ASEAN members

In 2020 Vietnam will abolish sugar quotas import from ASEAN members. This is means that the ASEAN members are able to export sugar to Vietnam without any restrictions on imports, which is a good sign for the ASEAN that produce sugar and can access to the Vietnamese markets.

Sugar is a commodity that the Vietnamese Government has to manage the import in order to protect domestic producers and to balance for consumption by restricting import quotas. In previous years, the restrictions have made difficulties for sugar producers where are from ASEAN countries to enter Vietnamese markets.

In complying with the obligations of the ASEAN, the Vietnamese Government has made an Agreement No. 130 / NQ-CP, dated 17 October 2018. Thus, the Ministry of Industry and Commerce has issued Decree No. 23/2019 / TT.BCT to abolish the sugar import trade (tariff code 1701) which will be implemented on 1 January 2020. The Decree will be applied for the ASEAN members.

Following the notification, the quotas of sugar import where are originating from ASEAN members will be terminated. This is means that there is no limitation on the amount of sugar in import to Vietnam. However, the import duty on sugar is still remaining, such as the duty tax for Lao PDR which is using Form S is 2.5% and Form D is 5%.

Source: Lao PDR Trade

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