Vietnam to Apply Preferential Tariffs on 1,000 Imports under AANZFTA
The Vietnamese Ministry of Finance has announced preferential tariffs to be levied on over 1,000 imports from ASEAN, New Zealand and Australia during the 2010-2012 period.
The move is in line with the Australia-ASEAN-New Zealand free trade agreement (AANZFTA) ratified by Prime Minister Nguyen Tan Dung in late June as part of efforts to expand trade.
Import taxes on poultry, frozen and fresh beef, frozen and fresh pork, milk products, and eggs will be 5%, 10%-15%, 20%-25%, 7-25% and 7%-25%, respectively, during the period, said the ministry.
Under AANZFTA, the ASEAN bloc, Australia and New Zealand all pledged to cut 90% of tariffs by 2018 and agreed to set up a non-tariff measure mechanism. (Vietnam Economic Times)
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