November 5, 2003
Vietnam's Agricultural & Aquaculture Exports to China To Increase
Vietnam's agricultural and aquaculture exports to China are expected to increase by US$400 million when China lowers import tariffs next year, according to a report of Vietnam Investment Review on November 3.
Of all exports, aquacultural products, and fruit and vegetable will benefit most from the tariff reduction with an estimated increase of US$200 million, and US$130 million, respectively.
The new tariffs are part of the Early Harvest Program agreed last year between China and the Association of the Southeast Asian Nations.
Under the program, import tariffs in China and Vietnam on eight agricultural and aquacultural products will be reduced gradually to 20% by 2004 and 0% by 2008 from the current rate of 40%.