Can Vietnam take full advantage of preferences in VN-EAEU FTA?
With the free trade agreement between Vietnam and EAEU (Eurasian Economic Union) having taken effect, many Vietnamese export items now enjoy a zero percent tariff. However, it will be not an easy task to boost exports. According to Trinh Thi Thu Hien from the Ministry of Industry and Trade’s Import-Export Department, under the Vietnam-EAEU FTA, 56 percent of tax categories of Vietnam’s exports to the region had zero percent tariff as soon as the agreement took effect. Nearly all textile & garment products which had a tariff of 15 percent have seen the tax cut to zero percent since October 5. EAEU has strict protection over textile & garment products made of wool, cotton and high-end products, but has opened the market to products. Many footwear and handbag products taxed 5-10 percent previously have also seen the tax cut to zero percent. These include sports shoes, an advantageous product of Vietnam.
