Ministry of Finance issued Circular No. 168/2014/TT-BTC dated 14 November 2014 prescribing special preferential import tariff of Vietnam to implement AANZFTA commitments in 2015-18.
This Circular takes effect from 2015 to 2018. The AANZFTA special preferential import tariff includes 9,471 tariff lines (as in AHTN2012, not including 87 CKD tariff lines), categorized at 8-digit level. In particular, there are 155 lines that Vietnam did not commit.
There are 34.9% of tariff lines with tax changes in 2015 compared to 2014 (of which 2.3% of tariff lines with increased rate (heading chicken, wine, clothing, steel, pump water ...) and 32.6% of tariff lines with reduced rate (group buffalo meat fresh or chilled, some fish, vegetables, tea, fat, cream, varnishes, fibers, tubes). Among tariff lines with reduced tax rates there are 0.79% tariffs are eliminated by 2015 (bluefin tuna, freshwater fish, some roots, acids, drugs, beer producing machines, anti-sprouting...).
Items included in the reduction and elimination of tariff period 2015-18 to implement AANZFTA mainly include commodities like cattle (whole); chickens, ducks, geese, rabbits, birds, geese, turkeys other; beef, sheep, goats (fresh and frozen); some extra meat and edible offal; some types of fish (such as eel, flounder, herring ...); milk and cream, not concentrated and not containing added sugar or other sweeteners; milk and cream, condensed or containing added sugar or other sweeteners (powder); yogurt, butter, grated cheese, eggs, flowers, fruits, vegetables, oil from the seeds, margarines, some construction products, chemicals, polymers, ceramics, household rubber and rubber products, garments...
The items on the sensitive list such as fruits (oranges, tangerines); alcohol; undenatured ethyl alcohol with alcoholic strength by volume of less than 80%, cigars, oil, tobacco, some products of iron, steel, passenger cars, motor vehicles used for freight ... are not obliged to eliminate tariff but has specific roadmap ending 2020-22.
Overall, the balance of trade with Australia and New Zealand will not be affected negatively because Vietnam is tending to have trade surplus with these markets.