Vietnam to adjust import duty for petchem starting 2018

According to Circular number 125/2017/ND-CP signed on 16 November 2017, the Vietnamese government has announced the new import duties for all petrochemical products to the country with effective 1 January 2018.

Under the Circular and respective appendices, import duties for most petrochemical products remain unchanged from 2017, except for the introduction of 3 per cent on PP copolymer under HS code 3902.30. This product has been enjoying zero import duties throughout past years due to the unavailability of local production.

Having said that, the Circular noted that buyers are still entitle to zero import duties rate on import PP copolymer from dutiable origins provided Certificate of Content proved no one single monomer content is above 95 per cent.

Countries that are having free trade agreement with Vietnam, including Southeast Asia, China, Japan, South Korea, Australia and New Zealand are not subjected to import duties for any petchem product with form CO presented.