+33 680 38 14 46
Australia lifts trade barriers for 2010
Australia
Wednesday 29 April 2009
Many Vietnamese exports to Australia and New Zealand will enjoy tariff-free status from next year.
Tony Burchill, Australia’s senior trade commissioner to Vietnam, said the ASEAN-Australia and New Zealand Free Trade Area (AANZFTA) agreement would facilitate trade in goods and services and boost investment and soon benefit Vietnamese exporters.
He said Australia would immediately eliminate tariffs on many industrial and agricultural products imported from Vietnam from 2010 such as footwear, vegetables, fish products, meat, livestock, fruit and nuts, pharmaceuticals, wine and spirits , pulp and paper.
Australia would also bind all tariffs on clothing and textiles, one of Vietnam’s most important exports, by 2020. Specifically, 563 tariffs on textiles and textile articles will be eliminated in 2010 and 42 tariffs will phase to zero per cent from 2015 to 2020.
“I guess that agricultural and wooden products, seafood and textile and apparel exports from Vietnam to Australia and New Zealand will increase remarkably as these are the country’s most competitive goods,” said Burchill, adding that the import tariff cuts would also benefit Vietnamese consumers.
“From 2010, Vietnam will reduce by 5 per cent, per year its import taxes on dairy products and this is good news for Vietnamese consumers,” he said. Meanwhile, under the agreements, most import taxes on automotive parts in Vietnam will be eliminated or reduced to 5 per cent by 2018, which will help manufacturers reduce production costs.
Besides hefty tariff cuts, Vietnam also made some strong commitments to opening its market in services, particular in education and training services, which will not only bring benefits to other countries but also to Vietnam.
Tony Burchill, Australia’s senior trade commissioner to Vietnam, said the ASEAN-Australia and New Zealand Free Trade Area (AANZFTA) agreement would facilitate trade in goods and services and boost investment and soon benefit Vietnamese exporters.
He said Australia would immediately eliminate tariffs on many industrial and agricultural products imported from Vietnam from 2010 such as footwear, vegetables, fish products, meat, livestock, fruit and nuts, pharmaceuticals, wine and spirits , pulp and paper.
Australia would also bind all tariffs on clothing and textiles, one of Vietnam’s most important exports, by 2020. Specifically, 563 tariffs on textiles and textile articles will be eliminated in 2010 and 42 tariffs will phase to zero per cent from 2015 to 2020.
“I guess that agricultural and wooden products, seafood and textile and apparel exports from Vietnam to Australia and New Zealand will increase remarkably as these are the country’s most competitive goods,” said Burchill, adding that the import tariff cuts would also benefit Vietnamese consumers.
“From 2010, Vietnam will reduce by 5 per cent, per year its import taxes on dairy products and this is good news for Vietnamese consumers,” he said. Meanwhile, under the agreements, most import taxes on automotive parts in Vietnam will be eliminated or reduced to 5 per cent by 2018, which will help manufacturers reduce production costs.
Besides hefty tariff cuts, Vietnam also made some strong commitments to opening its market in services, particular in education and training services, which will not only bring benefits to other countries but also to Vietnam.
