The Government recently issued Decree No149/2017/NĐ-CP, which regulates a new special preferential import tariff, as agreed upon in the VKFTA, and to be put in place between 2018 and 2022. Under the decree, import taxes imposed on 704 types of products imported from the RoK to Vietnam, will be eliminated in 2018. The groups of commodities that will enjoy tax exemptions this year are mainly in seafood, wheat flour, confectionery, diesel fuel, jet fuel, paint, laundry detergent, plastic, iron and steel products, power machinery and equipment, and electronic products. In 2018, an additional 653 products imported from the RoK will also have their tax rates lowered from last year. The preferential tax rates will be applied to commodities directly transported from the RoK to Vietnam. The goods must also meet origin regulations, as stated in the agreement, and exporters must provide certificates of origin in a form stipulated by the Vietnamese Ministry of Industry and Trade. In 2018, Vietnam has set several new preferential import tariffs to implement bilateral and multilateral FTAs with partner countries and territories, such as mainland China, Hong Kong, Japan, and the RoK. Under the Vietnam-Japan Economic Partnership Agreement (VJEPA) and the ASEAN-Japan Comprehensive Economic Partnership Agreement (AJCEP) for 2016-19, nearly 4,000 import tariff lines for many groups of commodities imported from Japan will be also eliminated in 2018.
Vietnam and Japan have closed 3-month long negotiations and signed an economic partnership agreement (EPA) effective from early 2009, under which the two countries agree to exempt tax for 92 per cent of trade in the next decade, Vietnamese state media said, quoting spokesman of the Japanese Foreign Ministry, Yasuhisa Kawamura on December 26. Vietnamese Minister of Industry and Trade Vu Huy Hoang and Japanese Foreign Minister Hirofumi Nakasone signed the pact in Tokyo on Thursday December 25, the Japanese Embassy in Hanoi has said. This is the 10th free trade pact Japan has signed with Singapore, Mexico, Malaysia, Chile,…... [read more]
The Hanoitimes - The Ministry of Finance has issued Circular 201/2015 / TT-BTC on preferential import tariffs, particularly of Vietnam to implement the Free Trade Agreement on Vietnam-Korea period of 2015-2018 (VKFTA). Goods imports applied preferential tariffs VKFTA must meet four basic conditions are: under Tariff VKFTA; imported from South Korea to Vietnam; shipped directly from Korea to Vietnam as stipulated by the Ministry of Industry and Trade; meet the rules of origin in Vietnam-South Korea free trade agreement; certificates of origin of goods prescribed by the Ministry of Industry and Trade. The free trade agreement (FTA) between Vietnam and…... [read more]
According to a spokesperson from the ministry’s Foreign Investment Agency, under the deal, tariff reductions would be reduced to zero on substantially all trade line items and phased in over the next few years at the beginning of each year. “So January 1, 2016 will mark the start of the ‘second year’ of rate cuts,” said the spokesperson. He said besides textiles and car parts, the trade deal will open the Vietnam market up to a host of RoK consumer goods including electronics and even cosmetics, providing more export opportunities for small Korean businesses. In particular, Vietnam is the first FTA…... [read more]
Several Vietnamese key export items in the TPP market such as agricultural products, seafood, garments and textiles, and shoes, in addition to wooden furniture, electronics and rubber, will enjoy zero tax three to five years later.In terms of imported taxes, Vietnam commits to applying a common tariff for all the TPP members, of which, 65% of tariffs will be removed for animal feed, milk, rice, and leather, apart from leather products, cotton, garments and textiles, and fertilisers. Cosmetics, machines, equipment, and wooden furniture will also see a 65% reduction in tariffs. Around 98% of tariffs will be removed after 10 years,…... [read more]
There has been no survey which measures the influences of the South Korean stars on the movement of using South Korean goods in Vietnam. However, it’s clear that Korean stars have helped Korean goods easily penetrate the Vietnamese market. In order to advertise for the new Galaxy Y model, Samsung launched an imposing marketing campaign. The South Korean boyband, which has been favored by the youths, was invited to participate in the SoundFest 2012 music night as the ambassador of the Y-series mobile phones (Young). It remains unclear how many Galaxy Ys Samsung would sell after the campaign, but it’s…... [read more]
