India Queen basmati rice
India Queen basmati rice

 

To boost the global export market especially focusing the cross border export, China has planned certain suggestion in import-export regulations.

According to Vietnam Food Association, Vietnam has exported 6.3mn tonnes of rice in 2014 worth US$3bn, of which 30% was exported to China through official means and two million tones of rice through non-official means through cross border for which Vietnam has been warned by WTO also.

Export companies in Vietnam told the local sources that china preferred to import rice from the Southeast Asian nation but through unofficial ways as these are cheaper, tax free and cost US$80 per tone with quota fee but if they import rice through official means they have to give VAT as well as import tax, all of which would cost US$160 per tonne, added the sources.

The Cross border activities could be ceases anytime as it has been already warned by WTO also so the Vietnam thinks that it would be better to bring amendments in the policies of cross border trade instead of fully ceasing it.

Vo Tong Xuan, leading rice expert in Vietnam, said, “Vietnamese exporters must not negotiate with Chinese importers through intermediaries, but directly with importers.”

In the light of negotiations failing, Xuan added that Vietnamese businesses would require support from other Vietnamese businesses and the VFA, which is responsible for protecting Vietnamese businesses.

 

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