Vietnam's agricultural, aquacultural exports to China to surge
( 2003-11-03 16:36) (Xinhua)
Vietnam's agricultural and aquacultural exports to China are expected to grow
by US$400 million when China lowers import tariffs next year, according to a
report of Vietnam Investment Review on Monday.
Of the sum, aquacultural products, and fruit and vegetable will benefit most
from the tariff reduction with an estimated increase of US$200 million, and
US$130 million, respectively.
The new tariffs are part of the Early Harvest Program agreed last year
between China and the Association of the Southeast Asian Nations.
Under the program, import tariffs in China and Vietnam on eight agricultural
and aquacultural products will be reduced gradually to 20 percent by 2004 and
zero percent by 2008 from the current rate of 40 percent.
Vietnam exported US$80 million worth of fruits to China in 2002, four times
more than it imported.
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