About VIETNAM

 ABOUT VIETNAM

  • GeographicalSuperiority
  • Progressive Internationalization
  • Politics - Society -  Culture
  • Economic Growth
  • Abundant Labor Force
  • Good Relationship with Japan
  • About Southern Vietnam

Since officially affiliating itself with ASEAN in 1995, Vietnam has enacted a number of measures to increase internationalization.

1996 AFTA (Common Effective Preferential Tariffs System for the Asian Free Trade Area) is become effect

 

  • Vietnam joined ASEAN in July 1995, and after the Common Effective Preferential Tariffs (CEPT) took effect in 1996, tariffs on eligible items were reduced to 0~5% between Vietnam and the other ASEAN countries.
2001 U.S - Vietnam Bilateral Trade Agreement

 

  • Both countries conferred Most Favored Nation and National Treatment status to each other.
2007 WTO affiliation

 

  • Officially affiliated itself with the WTO on January 11th. Vietnam has committed itself to reducing tariffs on 3,800 items to a 0~35% standard, but this reduction has been applied fully.
2008 AJCEP (ASEAN - Japan Comprehensive Economic Partnership)

 

  • Within 10 years, 95% of Japanese imports and 90% foreign trade turnover of ASEAN6 shall be free of tax. 90% tariff of Vietnam’s products will be reduced fully within 15 years.
2008 JVEPA (Japan - Vietnam Economic Partnership Agreement)

 

  • Within 10 years, 95% of Japanese imports shall be free of tax. Almost all mining products had their tariffs immediately eliminated by the agreement. Agriculture products will have their tariffs eliminated within 7 years and forest products within 10 years.
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