16:52 | 07/08/2015 Trade
Prime Minister Nguyen Tan Dung has approved a plan on import management up to 2020 in accordance with international commitments.
The aim of the plan is to build a set of export management instruments to create an open, transparent, stable and predictable legal framework for enterprises, contributing to controlling imports and ensuring sustainable economic development.
Under the plan, import growth will be capped at 10% each year during the 2016-2020 period with exports rising by an annual average of 11% to gradually narrow the trade deficit with a view of reaching a balance in 2020.
The plan will seek to take advantage of tariff and non-tariff measures set out by the World Trade Organisation and other multilateral and bilateral free trade agreements.
Vietnam will increase the use of non-tariff measures, regulations on technical barriers to trade, sanitary and phytosanitary measures, and trade defence instruments.
In addition, a law on foreign trade management will be made to ensure the stability and consistency of policies, and practical and feasible regulations to facilitate enterprises’ operations.
Under the plan, the government will also periodically review administrative measures, make necessary changes and abolish redundant provisions in order to achieve the goals of both assisting enterprises and protecting the public interest./.