Vietnam needs to move towards strengthening its legal trade frameworks to put forth proper non-tariff measures and take advantage of trade incentives from other ASEAN countries.
These findings were the outcome of a seminar on non-tariff measures (NTMs) and other commitments under ASEAN free trade area tariff reduction framework (CEPT/AFTA) held in Hanoi on June 11 by the Trade Ministry.
According to the ministry, non-tariff barriers (NTBs) will be applied more strictly in the relationship between Vietnam and other ASEAN countries due to import tax rates in the bloc already being reduced to between 0-5 percent.
To date, ASEAN countries have applied NTMs to Vietnam on additional customs fees, regulations on exclusive rights on import, state-owned enterprises’ business rights and technical standards.
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