Business

Lao Cai int’l border gate records positive growth in trade

The international border gate of the northern province of Lao Cai reported that cross-border trade through the gate exceeded 254 million USD in the first three months of 2017.
Lao Cai int’l border gate records positive growth in trade ảnh 1The international border gate of Lao Cai province. (Photo: laocai.gov.vn)

Lao Cai (VNA) – The international border gate of the northernprovince of Lao Cai reported that cross-border trade through the gate exceeded 254million USD in the first three months of 2017, reaching 28 percent of itsyearly plan.

The figure also represents a rise of more than 10 percent compared toQ4 2016, said the customs office at the border gate.

Goods exported via the gate were mainly iron ore, footwear,agricultural products, confectionary and milk. Meanwhile, imports included agriculturalproducts, fertilisers, chemicals, steel, machinery and rubber products.

 About 237.6 billion VND (10.4 million USD) were collected for State’sbudget in the reviewed period, an increase of nearly 40 percent compared to theprevious quarter and 240 percent year-on-year.

Lao Cai province and customs sector have streamlined customs clearanceprocedures for businesses and reduced many types of fees at the border gate,contributing to the growth.

According to management agencies, this is a positive sign given thatChina tightens policies for import-export products and implements tax reductionunder free trade agreements.-VNA 

VNA
#Lao Cai #international border gate #Q1 2017 #import-export Lao Cai
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