Exporters accessing tariff preferences bet88 slot FTAs

Total export turnover with preferential tariffs from free trade agreements (FTA) bet88 slot 2021 reached over billion, representing 32.66 per cent bet88 slot markets where Vietnam has signed an FTA. The Ministry of Industry and Trade (MoIT) has forecast that the rate of preferential C/O (Certificates of Origin) bet88 slot total export turnover will increase further bet88 slot the future.

According to MoIT figures, footwear has a rather high rate of using preferential C/O under FTAs. The origin criteria of footwear goods bet88 slot FTAs are suitable for Vietnamese businesses’ abilities, it believes. Therefore, footwear is a commodity with high C/O export turnover and high preferential C/O usage when exporting to markets with FTAs. Plastic and rubber are the second-largest group with preferential C/O usage, at 69.02 per cent and 67.37 per cent of export turnover with preferential C/O, respectively. Next are textile products with export turnover of .14 billion, while many products bet88 slot the group of agricultural and aquatic products also have a high rate of using preferential C/O when exporting to markets with FTAs.

Moreover, the MFN (Most Favored Nation) import tariff bet88 slot some markets is 0 per cent or 1-2 per cent or equal to preferential tariffs bet88 slot FTAs. bet88 slot these cases, enterprises do not apply for preferential C/O when exporting because the presence or absence of preferential C/O does not make a difference bet88 slot tariffs.

bet88 slot general, 32.66 per cent of business took advantage of FTA preferences bet88 slot 2021. The MoIT forecasts that the rate will increase because of the EUVFTA and the UKVFTA.

Experts have said that FTAs, especially new-generation FTAs such as the EUVFTA and the CPTPP, will continue to open up tariff preferences.