One of the most common questions I get from customers is: Is Vietnam duty free? Some countries agree to exempt duties from Vietnam, some do not. And it depends on your HS Code. Let me explain. See the list and infographic below.
How much money can you save if you export products to Vietnam?
Note that having a Free Trade Agreement (FTA) does not mean that every product is 100% duty free. Every product is different. Some are 100% duty free, others are flat, and some have progressive duty free preferences. If you want to know the duty free status of your tool product, you can first find out what the HS Code is. In the next email, I will address how to find your HS Code.
Below are the names of all the trade agreements currently in force that involve Vietnam:
1. European Union – Vietnam Free Trade Agreement (EVFTA)
2. ASEAN Free Trade Agreement (AFTA)
3. ASEAN – China Free Trade Agreement (ACFTA)
4. ASEAN – Australia – New Zealand Free Trade Agreement (AANZFTA)
5. Vietnam – Japan Economic Partnership Agreement (VJEPA)
6. Vietnam – Korea Free Trade Agreement (VKFTA)
7. Vietnam – Chile Free Trade Agreement (VCFTA)
8. Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) – which includes Vietnam among its 12 member countries:
1. Australia
2. Brunei
3. Canada
4. Chile
5. Japan
6. Malaysia
7. Mexico
8. New Zealand
9. Peru
10. Singapore
11. Vietnam
12. United Kingdom
Hope this information is helpful. 🙂