Deputy PM urges to cut import tariff under FTA agreements

Source: Pano feed



Đăng ký: VietNam News





(CPV) - Deputy Prime Minister (PM) Vu Van Ninh has urged continuation of seriously implementing import tax reduction commitments in Vietnam’s Free Trade Agreements (FTAs) with its foreign partners during the 2015-2018 period as recommended by the Ministry of Finance.

The Deputy PM assigned the Ministry of Finance to announce his direction to ministries, sectors and localities to follow.


The ministries, sectors and localities were urged to actively study and propose solutions while implementing FTA import tax reduction commitments during the 2015-2018 period in order to ensure sustainable economic development and address negative impacts, guaranteeing the realization of the assigned goals and requirements of international economic integration.


The Ministry of Finance reported that Vietnam has signed eight bilateral and multilateral FTAs with import tax responsibilities included. In almost all of the signed FTAs, about 90 percent of tariff lines on average will be cut, except the ASEAN Free Trade Area with the reduction of nearly 100% of tariff lines.


A zero tariff rate will be imposed on some 90-97% of imports by 2020./.



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