Authorities set import reference prices for over 3,000 commodities
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Khit / Yoon (NP News) - Aug 14
Department of Trade under the Ministry of Commerce released the statement on 6 August that the reference prices for imports are set for more than 3,000 products and the import licenses will be processed following the set reference prices.
According to the statement, the abovementioned action was taken to ensure the commodity prices of imported goods are stable and reasonable.
It is reported that the import valuation board formed by the Department of Customs and the Department of Trade has scrutinized import reference prices for 373 lines of Harmonized System (HS) Code and 3,279 types of products.
Therefore, businesspersons shall comply with the import reference prices. Otherwise, they will need to re-apply for the license registrations.
“The import license must be applied as mentioned. If not, the relevant businessman is required to report. The price is set according to the type of product, and the price is set together by the Ministry of Planning and Finance and the Ministry of Commerce,” an official from the Department of Trade told The NP News.
The statement stated that during the process of applying for an import license for the mentioned products, and the process of opening an import declaration form, actions must be carried out by the import reference price set for each product starting from 12 August.
The Department of Trade stated that the import reference prices will be reviewed promptly for preparation and publishing.