Vietnam to Benefit from Immediate TPP Tariff Removal

Tuan Minh

11:19 10/11/2015

BizLIVE - Trans-Pacific Partnership nations pledge to remove between 78% and 95% of tariffs on imports from Vietnam.

Vietnam to Benefit from Immediate TPP Tariff Removal

Around $25.2 billion worth of Vietnamese exports will enjoy zero tariffs immediately when the landmark trade deal is effective.

After the deal comes into force, member countries of the trade bloc will immediately eliminate considerable tariffs on imports from Vietnam, enabling Vietnamese exporters to get wider access to the world’s leading markets such as the U.S., Japan, Canada and Australia.
Tariffs on imports from Vietnam will be abolished five to ten years after the TPP trade agreement takes effect, Vu Nhu Thang, head of International Cooperation Department under the Ministry of Finance, said at a press briefing on Monday.
Several countries will remove tariffs on Vietnamese goods in a 10-year roadmap or impose tariff-rate quota, he added.
According to the ministry’s estimation, based on 2014 data, as much as $25.2 billion worth of Vietnamese exports will enjoy zero tariffs immediately when the landmark trade deal is effective. The value excludes exports to Singapore, Malaysia and Brunei.

TUAN MINH

Từ khóa: TPP

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