Vietnam to Reduce 200 Import Duties in 2012

In 2012, Vietnam will cut import duties for nearly 200 goods, down roughly 5-10 percentage points.

China authorities remind Chinese exporters of applying for China-ASEAN FTA Certificates of Origin for goods toward Vietnam so as to enjoy its duty reliefs.

According to Vietnam-issued ASEAN-China FTA import tariff for 2012-2014, the 10% import duty reduced from 15% will be applied this year to nearly 200 goods from China, including rice, vegetable oil, mineral water, beverages, cosmetics, some woodware, steels, microwave ovens and electric water heaters.

The ACFTA tariff schedule, implemented in next 3 years, covers 8,900 rates in Vietnamese preferential import tariff with 9,558 rates in total, the remaining rates the same as 2011. Over 600 rates unlisted therein concern sensitive goods.