Vietnam will cut import tariffs by an average of roughly 2 percent on many types of goods between now and the end of 2009 in order to comply with the government's commitments to the World Trade Organization, the Ministry of Finance said.
Among the goods subject to lower duties will be beer and liquor, tobacco, coffee, vegetable oil, processed meat, fresh fruit and vegetables, iron and chemical products.
Since Vietnam became a WTO member in January 2007, its government has committed itself to reducing import tariffs on 10,689 tax lines by an average of about 4 percent through 2013. Duties on agricultural products must be reduced on average from 21 to 25.2 percent and those on other products from an average of 12.6 up to 16.1 percent.
Since its accession to the WTO, Vietnam has already cut its import tariffs on about 1,800 different tariff lines, mostly related to apparel and agricultural products. Duties on vehicles and milk were reduced before WTO deadlines, the ministry said.
Deputy Minister of Finance Tran Xuan Ha said the opening of the domestic market through the reduction of tariffs and the removal of non-tariff barriers on many goods has made it easier to bring high-quality goods into the country at more reasonable prices.
Among the goods subject to lower duties will be beer and liquor, tobacco, coffee, vegetable oil, processed meat, fresh fruit and vegetables, iron and chemical products.
Since Vietnam became a WTO member in January 2007, its government has committed itself to reducing import tariffs on 10,689 tax lines by an average of about 4 percent through 2013. Duties on agricultural products must be reduced on average from 21 to 25.2 percent and those on other products from an average of 12.6 up to 16.1 percent.
Since its accession to the WTO, Vietnam has already cut its import tariffs on about 1,800 different tariff lines, mostly related to apparel and agricultural products. Duties on vehicles and milk were reduced before WTO deadlines, the ministry said.
Deputy Minister of Finance Tran Xuan Ha said the opening of the domestic market through the reduction of tariffs and the removal of non-tariff barriers on many goods has made it easier to bring high-quality goods into the country at more reasonable prices.