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Illustrative image (Source: VNA)

Vietnam would import 71,835 tonnes of raw tobacco under tariff quota for 2024 set in a freshly issued circular by the Ministry of Industry and Trade (MoIT).

Raw material import tariff quotas are assigned by the method specified in the Government's Decree No. 69/2018/ND-CP dated May 15, 2018, detailing a number of articles of the Law on Management Foreign Trade, Circular No. 12/2018/TT-BCT dated June 15, 2018 of the MoIT detailing a number of articles of the Law on Foreign Trade Management, and Decree No. 69/2018/ND-CP dated May 15, 2018 of the Government detailing a number of articles of the Law on Foreign Trade Management.

The above quota is allocated to traders who are licensed for producing cigarettes by the MoIT and are in need of raw tobacco for production of cigarettes with a certain percentage of imported raw tobacco certified by the ministry.

Circular No. 39/2023/TT-BCT will take effect from February 22, 2024 to the end of the year./.

VNA