The export restriction and import restriction

Article 15. The export restriction and import restriction

Set-up-company-in-vietnam-Vinasc11. Export restriction is a measure imposed by the competent authority aiming to limit the quantity, volume and value of exports, border checkpoints for export and the right to export products of traders.

2. Import restriction is a measure imposed by the competent authority aiming to limit the quantity, volume and value of imports, border checkpoints for import and the right to import products of traders.

Article 16. Exception to the export and import restriction

1. The export and import of restricted products prescribed in this Section for non-commercial purposes shall comply with the relevant regulations of law,

2. The export and import of restricted products prescribed in this Section related to customs-controlled areas shall comply with regulations in Section 8 of this Chapter.

Subsection 2. Export and import quotas

Article 17. The export quota and import quota

1. Export quota is a restriction imposed by the competent authority on the quantity, volume and value of Vietnamese exports.

2. Import quota is a restriction imposed by the competent authority on the quantity, volume and value of imports of Vietnam.

Article 18. The imposition of export quotas and import quotas

1. The export quota and import quota will be imposed if one of the following conditions is satisfied

a) The export or import quota is imposed according to international treaties to which the Socialist Republic of Vietnam is a signatory.

Set-up-company-in-vietnam-Vinasc2b) Products are used for ensuring the balance and growth of the economy for certain periods;

c) An importing country imposes the import quota on Vietnamese exports.

2. The imposition of export or import quotas shall ensure the transparence of the production and value of products; and the transparence and objectiveness of measures for the allocation of export and import quotas.

Article 19. The power to impose export quotas and import quotas

1. The Minister of Industry and Trade shall take charge and cooperate with relevant Ministries, ministerial authorities, other organizations and individuals in deciding the imposition of export and import quotas.

2. The Ministry of Industry and Trade shall publish products that are subject to export or import quotas.