17.2 C
Thursday, May 28, 2020
Home News EU's trade agreement with Asian countries

EU’s trade agreement with Asian countries

If approved by the European Parliament, the EU – Singapore Free Trade Agreement, the EU – Vietnam Trade and Investment Agreement, and the EU – Japan Economic Partnership Agreement will enter in force in 2019.

With these three agreements, most of tariffs on products will be removed either immediately after entry into force, or within a number of years (from 3 to 20 years, depending on the country and the product). Products can benefit from preferential tariff treatment of these agreements upon submission of an origin declaration.

As for Vietnam, currently the country has trade preferences with the EU under the Generalised Scheme of Preferences (GSP). Vietnam will be removed from the list of GSP beneficiary countries 2 years after the date that the EU-Vietnam FTA enters into force.


- Advertisment - LR Sustainability Decarbonisation Digital Adverts

Latest Posts

DP World teams up with blockchain platform

DP World, one of the largest ports and terminals operators of the world, has launched a process to join TradeLens, a blockchain-based digital container...

Ningbo-Zhoushan port jumps on postal trend

Ningbo-Zhoushan Port in China's Zhejiang province has teamed with China Post to create an express channel to facilitate the shipping of mail and parcels...

Major lines continue to update schedules and surcharges

Hapag-Lloyd has published an additional void sailing due to the low demand caused by the Covid-19 downturn, with THE Alliance's transatlantic AL1 cancelling the...

PIL confirms Temasek bailout discussions

Beleaguered Singaporean liner operator Pacific International Lines confirmed on 26 May 2020 that a unit of the Singapore government’s investment agency, Temasek Holdings, may...

ZIM enjoys stronger Q1 results amid the global pandemic

Despite the impact of the Covid-19 crisis on the shipping industry, ZIM has achieved a significant improvement in its first-quarter performance, compared to the...