Many of Vietnam's strong agricultural products immediately benefited when the country ratified the CPTPP

Published 2021년 7월 21일

Tridge summary

Peru's approval of the CPTPP is set to boost bilateral trade between Vietnam and Peru, with Peru committing to eliminate a majority of tariffs on imports from Vietnam. The agreement is expected to benefit Vietnamese exports of agricultural products and aquatic goods to Peru, with some products facing 0% tariffs immediately. The European-American Market Department urges Vietnamese businesses to seize these opportunities by improving competitiveness and sustainability. Peru is seen as a potential market for Vietnamese products, especially given that 75% of Peru's import-export companies are small and medium-sized.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the assessment of the European-American Market Department (Ministry of Industry and Trade), Peru's official approval of the CPTPP is the basis for promoting bilateral turnover between Vietnam and Peru, bringing opportunities to open the market for Vietnamese exports to Peru in the near future. Because when the CPTPP Agreement officially comes into effect, it promises to create a new impetus for the two countries' trade relations. Peru commits to eliminate 81% of tariff lines as soon as the Agreement comes into effect, equivalent to 62% of import turnover from Vietnam, and will eliminate tariffs on 99.4% of tariff lines in the 17th year. In which, there are many agricultural products with the tax rate of only 0% as soon as the CPTPP comes into effect, Vietnamese businesses need to immediately seize the opportunities brought by the Agreement to boost the export of a number of strong products. to Peru. For example, outdoor furniture exported to Peru will enjoy a tax rate ...

Source: Danviet