Vietnam Pledges to Exempt 90% of Tax Lines under AANZFTA in 2010
Vietnam has committed to exempt up to 90% of tax lines on imports from members of the Australia-ASEAN-New Zealand free trade agreement (AANZFTA) in 2010.
The information was announced at a seminar on introducing the agreement held by the Vietnam Chamber of Commerce and Industry (VCCI) in the central city of Danang June 23.
Vietnam will remove import tariffs on butter, milk and cheese from 2016 and 2017, and exempt or reduce duties on car components to 5% in 2018.
Under AANZFTA, the ASEAN bloc, Australia and New Zealand all pledged to cancel at least 90% of tax lines by 2018.
Australia and New Zealand will exempt all import taxes on ASEAN-originated goods in 2020 while the bloc will remove around 96% of tax lines on imports from the two partners.
The AANZFTA effective from early January is expected to further boost trade ties between Vietnam and Australia, New Zealand and ASEAN this year and the next years.
(VTV, Pioneer)
Vietnamese
