Off the wire
• U.S. asks citizens in India to stay alert over possible terror strikes  • Vanuatu, U.S. sign maritime law enforcement cooperation accord  • Russia creates kites for military scouting, monitoring  • Interview: More efforts needed to boost SCO economic cooperation -- Russian scholar  • Canadian stocks flat following modest GDP data  • Roundup: Myanmar steps up fight against bribery, corruption  • 1st LD Writethru: 3 killed, 10 injured in residential building fire in Indian capital  • Spotlight: Chinese premier's Eurasia trip to boost cooperation in production capacity  • Urgent: 3 killed, over 10 injured in residential building fire in Indian capital  • Roundup: S.Korean president's cabinet reshuffle boycotted by opposition parties  
You are here: 　 Home

Chinese goods to enjoy tariff exemptions in Vietnam

Xinhua, November 2, 2016 Adjust font size:

The ASEAN-China Free Trade Agreement (ACFTA) will offer zero-percent tariff for goods from China and ASEAN into Vietnam, according to Vietnamese government's decree on Wednesday.

According to the decree on special preferential tariffs for ASEAN and Chinese products during 2016-2018 period, hundreds of goods from China and ASEAN will enjoy zero-percent import tax to Vietnam.

The goods include vegetables, fruits, processed or preserved fish and other kinds of seafood, as well as cacao and cacao products, cereal, flour and meat.

Following the commitments at ACFTA, Vietnam will abolish tax or reduce it to zero percent for 90 percent of existing tariff lines by the end of 2018, while the remaining 10 percent of tariff lines will be reduced by 2020.

Statistics by the General Statistics Office (GSO) showed that in the first ten months of 2016, Vietnam had the highest import of goods from China, with total import value at 40.3 billion U.S. dollars.

ASEAN ranked third among major suppliers for Vietnamese imports with revenue of 19.1 billion U.S. dollars. Enditem