ASEAN – Japan Comprehensive Econpmic Partnership (AJCEP)

ASEAN – Japan Comprehensive Econpmic Partnership (AJCEP) 02/12/2015 02:40:00 625

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ASEAN – Japan Comprehensive Econpmic Partnership (AJCEP)

Association of Southeast Asian Nation (ASEAN) – Japan Comprehensive Economic Partnership was signed on April 3, 2008 and had been effective since August 15, 2008

Viet Nam has commiteed to eliminating 8231tariff lines (representing 88.6% of total chart) within 16 years with nearly 100 tariff headings which were reduced to 5% and about 10% of the remaining ones will be cut partly or have no commitement of rate reduction.

The Ministry of Finance also promulgated the Circular No, 24/2015/TT-BTC on the special preferential import tariff nomenclature to implement the ASEAN – Japan Comprehensive Economic partnership Agreement for the period 2015-2018

- In 2015, there are 2874 headings with the rate 0% (equivalent to 30% of the whole nomenclature),

- In 2018, Vietnam has committed to eliminating 62.2% of the tariff lines, focusing on the commodity froup such as: platic materials, chemicals, machinery, equipment, tools, spare parts, computers, electronic products, electronic components, various fibers, textile materials, leather shoes, medicine....

- Up to 2025, Vietnam has commiteed to delete another 26.4% of the tariff lines, bringing the toal number of headings with the rate 0% to 88.6% of the whole nomenclature. For these items which are not pledged to cut the tariff, they will be applied with the MFN tariffs at the cumrrent time, including: imported cars, spare parts, household electrical appliances, steel, machinery and equipment....

* Japan’s commitment on reducing the tariff for Viet Nam

Up to April 1, 2015, Japan had elimitated 923 tariff headings for the agricultural product from Viet Nam. By 2019, there will be another 338 agricultural tariff lines will be deleted. For the industrial goods of Vietnam, most of them have been applied with the rate 0% right after the effectiveness of the agreements, including: electronic components, machinery, equipment, telephone, computer household electrical appliances, platic paper...

By the end of the roadmap in 2026, Japan has committed to eliminating 96.45% of the whole tariff nomenclarture for these product from Viet Nam mainly focusing on agricultural products, maritime products, textile, foodwear, furniture, electronic components....

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