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Laos offers preferential tariff for Vietnamese products

21/01/2009

Vietnam and Laos signed an agreement detailing the items of import goods that will enjoy preferential tax treatment in 2009 and the following years in a bid to achieve their trade target for USD1 billion in 2010.

Vietnam and Laos signed an agreement detailing the items of import goods that will enjoy preferential tax treatment in 2009 and the following years in a bid to achieve their trade target for USD1 billion in 2010.

The agreement was signed by Vietnamese Minister of Industry and Trade Vu Huy Hoang and his Lao counterpart Nam Viyaketh in Hanoi on January 17.

Under the agreement, Vietnam will grant zero tax rate to an additional 16 items of Lao commodities belonging to the groups of car and motorbike engines and components.

Vietnam will give preferential quota to its import of commodities with Lao origin, including cigarette and tobacco blades (3,000 tonnes per year) and rice (40,000 tonnes per year).

Meanwhile, Laos will levy the tax rate of zero on an additional 87 items of Vietnamese commodities that are from the groups of vegetable raw materials, processed fruit, cigarette, apparel, motorbike, and home furniture.

Source: VOVNews

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