Vietnam to apply 0% tax rate on 700 product lines from South Korea

Up to 704 tariff lines on products imported from South Korea will drop to 0 percent this year under Vietnam-South Korea Free Trade Agreement (VKFTA).

Textile and garment is one of major export items South Korea (Photo: SGGP)
Textile and garment is one of major export items South Korea (Photo: SGGP)
According to Government Decree 149 on special preferential import tariff to implement the VKFTA,  a total of 10,847 tariff lines will fall to 0 percent in the phase of 2018-2022. Of these, 704 lines will be slashed this year.
The tariff abolishment will be applied for commodities including seafood, wheat flour, confectionary, diesel, plastic, steel products, machines and electronic equipment.

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