On 31 May 2007, the Government issued Decree No. 90/2007/ND-CP Providing on Import and Export Rights of Foreign Traders without presence in Vietnam ("Decree 90"). Decree 90 is applicable to foreign traders without presence in Vietnam from countries and territories being members of the World Trade Organisation ("WTO") or countries and territories entering into bilateral agreements with Vietnam on this issue, and other organisations and individuals involved in import and export without a presence in Vietnam ("foreign traders"). This is a step in developing the commitments of Vietnam to join the WTO.
The Decree was posted in Official Gazette on 23 June 2007 and became valid on 8 July 2007.
Decree 90 provides that the foreign traders may register the import right and export right in Vietnam if they fully meet 2 conditions:
Within 30 working days after receiving valid dossiers, the Trade Ministry or its authorised bodies shall grant registration certificates of import and export rights to foreign traders. In case of refusal to grant such a certificate, the Trade Ministry shall also give notice in writing within 30 days, clearly stating the reason for refusal.
Registration certificates of import and export rights of foreign traders will be valid for five years and it may be extended if the foreign traders meet fully the provided conditions.
When the Registration certificates of import and export rights are granted, the foreign traders have rights to exercise the import and export rights for goods permitted for import or export under Vietnamese law and Vietnam's commitments on the market-opening schedule. Otherwise, they have the right to purchase goods for export from or sell imported goods to Vietnamese traders having registered for trading in these goods under current provisions of Vietnamese law.
However, the foreign traders have obligations to strictly abide by customs, tax, import licence and other relevant regulations; to ensure the accuracy of information and documents produced to the Vietnamese Authorities; to make annual reports and irregular reports on their import and export situation at the Trade Ministry's request, etc.
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