Vietnam to Apply Zero Tax on Imports of Rice, Tobacco, Auto Parts from Laos
Vietnam will impose preferential import tariff of zero on rice, tobacco leaves and stems and automobile parts originated from Laos within the tariff quota in 2008, said a recent decision issued by the Ministry of Industry and Trade (MoIT).
Under the decision, Vietnamese traders are allowed to import rice, tobacco leaves and stems and automobile parts according to the tariff quotas.
Notably, only traders licensed to import tobacco materials at import tariff within the tariff quota by the MoIT are allowed to import, said the decision.
Importers of these products must certificates of origins granted by Laos authorities in order to enjoy free import tariff.
The move is expected to further boost bilateral trade ties, said the ministry.
Vietnam and Laos have targeted the two-way trade at US$1 billion by 2010 and US$2 billion by 2015, from US$240 million in 2006. (New Hanoi, The People Online)
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