Vietnam: Agricultural exports to EU are enjoying EVFTA tax incentives

Vietnam plans to export several kinds of agricultural products to the European Union on September 16-17 under the EU-Vietnam Free Trade Agreement (EVFTA), following the successful shipment of shrimps – the first enjoying the agreement’s tax incentives. Specifically, on September 16, the Dong Giao Exported Food Joint Stock Company will export passion fruit and the Vinh Hiep 400 Limited Company will ship coffee to the EU.

Meanwhile, on September 17, grapefruit, coconut and dragon fruit will be exported to this market by the VINA T&T Group Company. Thanks to tariff cuts under the agreement, the door is open wide for many of Vietnamese agricultural products to enter the EU.

The EU is the biggest importer of Vietnamese coffee, accounting for 40 percent of the total volume and 38 percent of the total turnover.

Local fruit and vegetables have been able to enjoy a wealth of opportunities to penetrate the EU since August 1 following the EU pledging to offer a substantial reduction of 94 percent out of total 547 tax lines placed on these products. Along with tax incentives included in the EVFTA, local fruits will be able to hold a competitive edge in the EU markets in comparison with strong competitors that have not signed an FTA with the EU, such as Thailand, China, Malaysia, and Indonesia.

Source: en.vietnamplus.vn


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