Vietnam cuts China auto import tariffs
According to the ASEAN-China Trade Agreement, the Vietnamese Ministry of Finance recently issued preferential tax rates for China's vehicles imports, which will be implementing from this month.
Tariffs on original special vehicle imports will be cut from 50% down to 40%. The special vehicle includes: snow vehicles, golf courses vehicles, small racing car and vehicles with a total ton weight of less than 24 tons. Import tariffs on pickup, trucks, commercial vehicles imported from China will be cut from 90% to 80%. Import tariffs on commercial vehicles loaded over 6 tons will be cut from 55% to 50%.
Industry experts believe that in 2006, Vietnam's annual vehicle sales should be more than 100,000 units, Chinese automobile enterprises will face great opportunities.
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