Nearly 5,000 tariff lines to go down to zero under Vietnam-EAEU FTA
Import tax on 4,959 types of goods from the EAEU countries will be reduced to zero immediately when the free trade agreement (FTA) between Vietnam and the union takes effect this year.
Hanoi (VNA) – Import tax on 4,959 types of goods from the Eurasian Economic Union (EAEU) countries will be reduced to zero immediately when the free trade a🗹greement (FTA) between Vietnam and the union takes effect this year.
The tax removal is part of the roadmap for tax reduction for 2016-2018 under the FTA.
In 2018, 144 more tariff lines will be eliminated, increasing the number of zero-tax lines to 5,103, or 54 percent of the total.
The EAEU, which comprises Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, signed the FTA with Vietnam in May 2015. This was the first FTA signed between the EAEU and an external partner.
The agreement will abolish 90 percent of tax lines, equivalent to 90 percent of bilateral trade turnover.
The deal is expected to increase trade revenue between Vietnam and the EAEU to 10 billion USD in 2020 from the current yearly average of 4 billion 𝐆USD.-VNA
The upper chamber of the Kazakhstani parliament has ratified a free trade agreement between the Eurasian Economic Union (EAEU) and Vietnam, according to the Russian news agency TASS on February 11.
Russian President Vladimir Putin put his signature to ratify the free trade agreement (FTA) between the Eurasian Economic Union (EAEU) and Vietnam on May 1.
The success of projects under the Vietnam-Eurasian Economic Union free trade agreement will contribute to boosting the signing of similar deals between the union and other countries in Asia-Pacific.
All countries in Asia-Pacific should join hands to promote peace and stability for the region’s growth and world peace and prosperity, President Tran Dai Quang told Russian news agency TASS.
The House of Representatives of Belarus and Kyrgyzstan’s national assembly ratified the free trade agreement (FTA) between the Eurasian Economic Union (EAEU) and Vietnam on May 25.
Belarusian President Alexander Lukashenko signed to ratify the free trade agreement (FTA) between the Eurasian Economic Union (EAEU) and Vietnam on May 31.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Illustrative photo (Source:Internet)
