Players: Vietnam-Korea FTA expected to eradicate import duty on polymers

Vietnam and Korea has officially signed the free trade agreement (VKFTA) in May 2015 and the agreement has been put into effect starting 20 Dec 2015. According to Vietnamese Ministry of Trade, companies in both countries will be benefited from the preferred trade condition given in the agreement.

Vietnamese players are currently waiting for the Circular and Guide from government on the products to be entitled for preferred import duty rate with many speculating homo-PP and ABS to be on the list. Currently, import homo-PP and ABS from Korea to Vietnam is subjected to 3% custom duty.

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