TPP confirmed tariff reduction schedule
- Tuesday - 15/03/2016 14:06
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Trans-Pacific Partnership (TPP) is the most looking forward to agreement for Vietnamese businesses, since it is the largest export market for Vietnam.
There are 12 countries taking part in TPP with the population of 800 million, account for 40% GDP and 1/3 of total global turnover. About tariff, when taking part in TPP, Vietnam shall confirm to eliminate nearly 100% of the tariffs in the agreement. In which, 65.8% of the tariffs shall value 0% right after the agreement is validated, 86.5% of which shall value 0% from the 4th year after the agreement is validated, 97.8% of which shall value 0% from the 11th year after the agreement is validated. Other kinds of product to be confirm to have its import tariff elimination scheduled on the 16th years as the latest possible year or follow Tariff-Rate Quota. Some products to have tariff reduction scheduled later are pork, chicken, corn and processed meat products.
P.V