Tariff for wooden products reduced to zero
VGP – The Ministry of Finance (MoF), the Ministry of Agriculture and Rural Development (MARD) and the Ministry of Industry and Trade (MIT) recently reached a consensus to cut tariff for wooden products (category of 44.07) from 10% to 0%.
June 03, 2010 9:22 AM GMT+7
|
|
|
Illustration photo |
The move targets to back domestic timber exporters who have been suffered from wood speculation to boost production and export.
The Việt Nam Timber and Forest Product Association lately recommended the Government cut import and export tariffs for wooden products in the categories of 44.03 and 44.07.
Việt Nam is expected to earn an export turnover of US $1.4 billion from wooden products in the first five months of this year, an increase of 35% over the same period in 2009.
The country is eying an annual export turnover of US $7 billion from the products by 2020./.
By Kim Loan
