Vietnam Lifts Quota Limits on Imported Corn, Cotton, Raw Milk

Vietnam Lifts Quota Limits on Imported Corn, Cotton, Raw Milk

Vietnam will remove its quota restrictions on imported corn, cotton and raw milk as of April 1 this year, the government announced this week. 

The removal is seen as a positive move towards the country’s accession into the World Trade Organization, said observers.

Since 2003, Vietnam started imposing quota limits on seven imported products, including raw milk, poultry eggs, tobacco, salt and cotton. 

In bilateral negotiations with important trade partners like the US and New Zealand over Vietnam’s WTO entry, milk and cotton products from these countries were of special interest.

This year, Vietnam will have to import over 85 per cent of the total volume of milk materials it needs for milk production as the domestic production sector cannot meet local demands. Vietnam spent US$20 million importing dairy materials and products in the first month of this year, up 28.2 per cent against the same period last year.