Since Viet Nam’s joining of the World Trade Organization (WTO) in 2007 great strides have been made to open the market to increased foreign partnerships and investment. As of this time, Full trading rights were extended to all foreign individuals and companies. This is truly a remarkable accomplishment for the one time closed command economy.
The import duty rates are divided into three distinct categories. According to the
United States Trade Representative, these are:
Normal trade relations (NTR) / most favored nation (MFN) rates that apply to all countries with membership in the WTO
Common Effective Preferential Tariff rates that apply to imports from ASEAN (the South Asia Free Trade agreement) countries.
General tariff rates that apply to all other countries (50% higher than the rates applied to MFN countries) (2007).
No comments:
Post a Comment