Public forums highlight new Laos border trade deal
VOV.VN - The Vietnam Ministry of Industry and Trade (MoIT) has announced it will sponsor a series of public workshops addressing new laws and regulations governing Vietnam and Laos cross border trade.
 |
The agreement, which consists of 23 articles, includes specific regulations dealing with cross-border trade by traders and residents who live on the two countries border areas, as well as the development of border markets and border trade support services.
It also designates specific border crossings to be used exclusively for border trade in line with bilateral and international multilateral treaties to which the two countries are signatories.
Under this agreement, the tax rate on cross border trade is eliminated.
Vietnamese local businesses who run production facilities in Lao provinces bordering Vietnam are also exempt from the value-added tax for commercial goods they ship back to the homeland.
The agreement also regulates payments for cross-border trade including measures to verify and tabulate the amount of cash crossing the border as well as other measures governing method of transport.
The public forums are the result of a joint collaboration among the MoIT and its Lao counterpart agency. Specific details of dates and times for the public forums will be released in the near future.
