Textiles products exceed the import quota in EAEU
Some goods items exceeding trigger could be applied trigger measure in half year. Photo: Nguyễn Thanh |
According to the Ministry of Industry and Trade: the EAEU Committee (Department of Domestic Market Protection) has issued a document No.14-674 announcing the number of underwear items (HS codes 6107, 6108, 6207, 6208, 6112 and children’s garments (HS 6111 20, 6111 30, 6111 90, 6209) that were imported from the beginning of the year to the end of October into the Union territory have reached 173,330 kg and 112,732 kg.
These numbers have exceeded triggers levels in 2017 as specified in Annex 2 of the Vietnam-EAEU Free Trade Agreement.
As committed in the Vietnam-EAEU Free Trade Agreement, when reaching trigger levels, the Union may apply a trigger mechanism to the related goods for a period of approximately six months. This is what textile exporters need to pay special attention to.
If the trigger mechanism is applied, during the effective period of the applicable decision, the related products will not be entitled to the preferential tax rate under the Vietnam-EAEU Agreement. It will be applied tax under MFN.
The trigger measure is a measure which is more likely to half of the tariff quotas (with limits on quantity) and half of protection (procedures for consultations on the possibility of causing damage to the domestic industry).
For each product, a trigger will apply each year if the volume of any products imported into the EAEU exceed the trigger for that year, the EAEU will immediately announce it to Vietnam by written document.
Related News
Flexible and proactive when exchange rates still fluctuate in 2025
11:03 | 30/12/2024 Finance
Enterprises focus on Tet care for employees
18:59 | 22/12/2024 Headlines
Numerous FDI enterprises face suspension of customs procedures due to tax debt
09:57 | 18/12/2024 Anti-Smuggling
Enterprises face difficulties in tax refunds due to partners closing
10:01 | 17/12/2024 Finance
Latest News
Sustainable opportunities for Vietnamese goods to penetrate the global market
13:54 | 30/12/2024 Import-Export
Top brands in Việt Nam in 2024 revealled
13:54 | 30/12/2024 Import-Export
Vietnamese catfish exports to hit $2 billion mark this year
13:52 | 30/12/2024 Import-Export
Is the 12% export growth target for 2025 achievable?
13:50 | 30/12/2024 Import-Export
More News
Increase revenue from building a sustainable supply chain
11:04 | 30/12/2024 Import-Export
Coconut export enter acceleration cycle
11:02 | 30/12/2024 Import-Export
Pepper export value reaches highest level since 2017
17:58 | 29/12/2024 Import-Export
Fraudulent planting area codes threaten Việt Nam’s durian exports
17:52 | 29/12/2024 Import-Export
Industrial production maintains rapid and throughout bounce back
14:26 | 29/12/2024 Import-Export
Halal Market: The Door is Wide Open, How to Exploit It
14:23 | 29/12/2024 Import-Export
Việt Nam becomes second biggest garment exporter globally
18:06 | 28/12/2024 Import-Export
Fraudulent planting area codes threaten Việt Nam’s durian exports
18:03 | 28/12/2024 Import-Export
Trade remedies protect domestic industries
13:49 | 28/12/2024 Import-Export
Your care
Sustainable opportunities for Vietnamese goods to penetrate the global market
13:54 | 30/12/2024 Import-Export
Top brands in Việt Nam in 2024 revealled
13:54 | 30/12/2024 Import-Export
Vietnamese catfish exports to hit $2 billion mark this year
13:52 | 30/12/2024 Import-Export
Is the 12% export growth target for 2025 achievable?
13:50 | 30/12/2024 Import-Export
Increase revenue from building a sustainable supply chain
11:04 | 30/12/2024 Import-Export