Illustrative image (Photo: Alianza News)Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc has issued a plan for implementing atrade agreement between Vietnam and Cuba.
The plan outlinesthe tasks for ministries, ministerial-agencies, State agencies and localities,one of which is to promote the dissemination of information related to the agreementthrough the media, websites, training courses, and seminars.
Information and forecastsrelated to import, export, trade and investment should be updated to Vietnameseenterprises, helping them understand more about Cuba’s technical requirements,rules on management of goods import and export, as well the market’s demand.
Regarding policy and institutions building work, ministries, ministerial-levelagencies, Government agencies, People's Committees of provinces andcentrally-run cities must consult related parties in the process.
Ministries and sectorswere asked to continue coordination with the Cuban side to develop and completenecessary institutions for the implementation of the agreement.
Attention should be paid to building market development programmes forVietnam’s potential export items and training enterprises in specificcommitments related to the agreement.
The Vietnam-Cuba TradeAgreement was signed on November 9, 2018 after two years of negotiation. The Agreementreplaces the earlier deal between the two governments on trade exchange andother economic cooperation forms signed on April 8, 1996.
It features 14 chapters, covering the trade ofgoods, rules of origin, customs administration and trade facilitation,trade remedies, technical standards and regulationsand conformity assessment procedures (STRACAP), sanitary and phytosanitary (SPS) measures, trade of services, economic andtrade cooperation, review and management, and dispute resolution.
In addition, the agreement, which officially took effect on April 1 thisyear, also contains annexes, mainly related to commitments on market opening.
Under the pact, the two sides have pledged toeliminate or reduce tariffs on nearly all commodities currently traded betweenthem over the next five years.
The Vietnamese Government recentlyissued Decree No.39/2020/ND-CP on a list of Vietnam’s specialpreferential import tariffs to implement the trade agreement with Cuba fromnow until 2023.
Accordingly, import tariffs on 514 items fromCuba, including some types of shrimp, fish, honey and fruit, cement, chromiumore, disinfectants, protective suits and wireless internet devices have beenslashed to zero percent.
For the 49 remaining tariff lines, tax rateswill be cut gradually. Commodities such as sugar and unprocessed tobacco willhave their tariff rates reduced to 15 percent in four years, cigarettes andcigars to 70 percent, and liquor and alcohol to 20 percent./.
VNA
