Vietnam's Government has issued Decree 5/2024/ND-CP on special preferential import tariffs for Cambodian goods as part of the implementation of the bilateral trade promotion agreement for the 2023-2024 period, VNA reported.

The decree provides details on special preferential tax rates and conditions for being entitled to those rates, including being on the list in Appendix I to the decree, having C/O form S issued by authorized agencies of Cambodia, and being transported through pairs of border gates stipulated in Appendix III to the decree.

Photo: VNA

Besides, the decree also stipulates tariff and import quotas specifically for rice and unprocessed tobacco leaves originating from Cambodia.

Under the decree, rice products produced with the support of Vietnamese firms, households, and individuals in Cambodian provinces bordering Vietnam, upon import into Vietnam, must comply with existing regulations on export and import taxes.

For rice and unprocessed tobacco leaves originating from Cambodia and imported into Vietnam by Vietnamese enterprises for re-export to other markets, the decree mandates adherence to the temporary import and re-export mechanisms established by the Vietnamese Government and relevant regional and global agreements signed by both countries.

The bilateral trade grew more than 20% annually during the 2015-2020 period, and reached USD 10.57 billion in 2022, up nearly 11% year-on-year. It is expected to stand at USD 20 billion in the time ahead.

According to a report by the Vietnamese Ministry of Planning and Investment, Vietnam had, as of 2023, run 206 projects in the neighboring country with a total registered capital of USD 2.94 billion, ranking fifth among the countries and territories investing in Cambodia.

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