Tuesday, 16/04/2019 17:42 (GMT+7)
The Government of Canada is offering an open policy which applies preferential tariffs on commodities imported from Vietnam.
Canada is a potential market for Vietnamese goods
Specifically, for tropical agricultural products, import tariffs will be cut to zero percent and there are not many technical barriers. For textiles, leather and footwear and handbags, which now account for about 7% of Canada’s total import turnover, import tariffs will be reduced to zero percent from 17-18%.
Canada is committed to remove 94.5% of tariff lines after CPTPP takes effect; equivalent to 78% of import turnover from Vietnam. From the fourth year, Canada will eliminate 96.3% of tariff lines; equivalent to 93.4% of import turnover from the country.
Meanwhile, agricultural and aquatic products will enjoy all import tariff elimination right after CPTPP takes effects.
This information was released in a meeting discussing solutions to increase trade surplus to Canada, held by the Ministry of Industry and Trade on April 10th, in Ho Chi Minh city.
Canada is considered a potential market for many Vietnamese goods such as textiles, footwear, seafood products, tea, pepper, cashew, coffee and wooden products. Two-way trade turnover increased sharply over the past few years, from USD1.14 billion in 2010 to USD3.85 billion in 2018.
By March 2019, Vietnam’s exports to the market reached more than USD506 million, a year-on-year rise of 36.6%./.
BTA