|
Free-trade deal to boost VN exports
The ASEAN-Australia-New Zealand Free Trade Agreement signed last February is expected to come into effect on January 1, officials from the two nations’ consulates general in HCM City told the media at a briefing on June 5.
When it comes into force, Vietnamese exports to the Antipodes will enjoy tax-free status.
Tony Burchill, Australia ’s senior trade commissioner to Vietnam , said Australia would immediately eliminate tariffs on fish and fish products, fresh and dried fruits, nuts, sugar, pulp and paper, wood and wood articles, meat, and livestock.
Vietnam will cut tariffs on milk products by 5 per cent.
Burchill added tariffs would be eliminated on 90 per cent of products from ASEAN, including Viet Nam , by 2018 and on all Vietnamese products by 2020.
Vietnam will eliminate or ease import taxes on most automotive parts to 5 per cent by 2018.
The country has also made a strong commitment to open its services market, particularly education, training and mining.
It will reduce the experience required by foreign high school, secondary-school, and other teachers from five to three years and expand the areas in which Australian educational-service providers can operate.
Nguyen Hong Ha, Deputy General Director of Vietnam Chamber of Commerce and Industry in HCM City —one of the organisers of the briefing — said AANZFTA would offer Vietnam many opportunities but requires enterprises to actively seize them.
VCCI plans to coordinate with the Ministry of Industry and Trade, two consulates, and industry associations to organise conferences to appraise Vietnamese businesses about the agreement.
Last year, Vietnam ’s trade with Australia was worth about 5.6 billion USD and with New Zealand , near 300 million USD.
There are more than 190 projects in Viet Nam in which Australia and New Zealand have invested more than1 billion USD.
vietnamplus
|
