Vietnam to apply 0% tax rate on 700 product lines from South Korea

SGGP
Up to 704 tariff lines on products imported from South Korea will drop to 0 percent this year under Vietnam-South Korea Free Trade Agreement (VKFTA).

Textile and garment is one of major export items South Korea (Photo: SGGP)

Textile and garment is one of major export items South Korea (Photo: SGGP)

According to Government Decree 149 on special preferential import tariff to implement the VKFTA,  a total of 10,847 tariff lines will fall to 0 percent in the phase of 2018-2022. Of these, 704 lines will be slashed this year.
The tariff abolishment will be applied for commodities including seafood, wheat flour, confectionary, diesel, plastic, steel products, machines and electronic equipment.

By CHE HAN – Translated by Hai Mien

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