Vietnam eliminates customs duties on South Korean PS imports
Within the scope of the Free Trade Agreement between ASEAN and South Korea, PS imports from Korea to Vietnam will enjoy 0% customs duty effective as of January 1, 2015. The agreement has been signed by the two parties for a time period from 2015 to 2018. Prior to the recent regulation, South Korean PS cargoes were subject to 5% customs duty in Vietnam. ABS imports from South Korea, meanwhile, remain subject to 3% duty.
The Finance Ministry of Vietnam, meanwhile, also eliminated all customs duties on PS and ABS imports from ASEAN countries starting from January 1, 2015 in line with country’s commitments as a signatory to the ASEAN Free Trade Agreement.
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