Vietnam Japan Economic Partnership Agreement

According to Mr. Le Trieu Dung, the official of the multilateral trade policy trade and industry, VJEPA would bring the most benefits to Vietnamese agricultural products. By committing to eliminate taxes on 83.8% of Vietnam`s agricultural trade within ten years, Japan`s agreement contains the most important commitment to each ASEAN country. In particular, Japan has defined 24 tariff lines that reflect some of Vietnam`s main products, including honey, ginger, garlic, fabric, durian, shrimp and crabs. Shrimp, crabs and different types of fishery products benefited from a zero% duty immediately after the entry into force of the VJEPA. Given that Japan is Vietnam`s largest seafood export market, commitment to Vietnam is fundamental to achieving its export growth goal. The agreement also imposes zero tariffs on Japan on 23 of Vietnam`s 30 highest quality agricultural, forestry and seafood exports, either immediately or until the end of the ten-year period. (Dong Nai Economics, 2014) For honey, the current Japanese quota for Vietnam is 100 tons / year, it is increased to 150 tons per year, the quota tax with a duty on the surplus of 12.8%, the Durians tax rate is now 0%, Japan will gradually eliminate the tax on pepper and sweet corn within 5-7 years; the tax rate on coffee and tea will be reduced to 0% over the next 15 years, and for processed fruit, the rate remains at 0%. For some seafood, namely shrimp, the tax rate is 0% immediately after the entry into force of the agreement, octopus and octopus up to 0% after five years. Please cite as: UNCTAD, International Investment Agreements Navigator, available at investmentpolicy.unctad.org/international-investment-agreements/ 1. . .

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