Vietnam Lowered Tariff Rate on Some Imports from R.O.Korea

According to a report on June 8, 2010 from a Vietnam's youth newspaper, in order to implement the agreement of Korea-ASEAN Free Trade Area from 2010 till 2011, Vietnam's Ministry of Finance recently issued a Notice on preferential tariff on imports from R.O.Korea.

As per the Notice, tariffs on various commodities imported from R.O.Korea to Vietnam will be lowered. For instance, the import tariff on sheep meat, beef and pork will be lowered to from 7% to 10%; that on dairy products will be lowered to from 10% to 15%; however, the import tariff rate on commodities like fish and fruits will remain comparatively high, keeping at from 15% to 20% at large.