Vietnam, South Korea agree on cumulation of origin of textile materials

SGGP
The Ministry of Industry and Trade on December 13 said that it and the South Korean Ministry of Trade, Industry, and Energy have just signed many important documents, including an exchange letter between the Government of Vietnam and the South Korean Government on the implementation of the cumulation of origin of textile materials between the two countries in the EU- Vietnam Free Trade Agreement (EVFTA).
According to EVFTA's commitments, exporting enterprises must ensure strict requirements on the origin of their products to enjoy import tariff reduction. Accordingly, the material fabric used to make clothes must be woven in Vietnam or other EU member countries. However, most textile and apparel materials in Vietnam are currently imported from non-EVFTA member sources.

Therefore, Vietnam negotiated with the EU to include a provision allowing Vietnamese enterprises to add the content of origin of material textiles imported from South Korea- the country that has signed an FTA with the EU - into the garment products produced in Vietnam to enjoy preferential import tariffs when exporting to the EU.

By Phuc Van – Translated by Thuy Doan

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