Vietnam to Lower Import Tariff on Commodities from India

According to the report on April 29, 2010 from a Vietnam's economic newspaper, Vietnam's Ministry of Finance announced that Vietnam had promulgated table of special preferential import tariff rate to fulfill the stipulations for the Free Trade Area between ASEAN and India from 2010 to 2012. According to the commitment, Vietnam will lower or exempt import tariff rates on 7,640 tariff items from a total of 9,222 tariff items in the table of import tariff rate as of June 1, 2010. Among the 7,640 tariff items, there are 2,200 tariff items under special preferential import tariff rates, which lower than the current preferential import tariff rates.