According to bilateral trade agreement between the Government of Lao PDR and the Government of Socialist Republic of Vietnam dated 3 March 2015, and a letter from Ministry of Foreign Affairs No. 170/AE.DT.1 dated 7 August 2015, Ministry of Industry and Commerce issues a Notification No. 0290/MoIC. FTPD.BD, dated 1 February 2016 on the implementation of preferential tariff for Lao PDR and Socialist Republic of Vietnam to be started from 2016 based on the bilateral trade agreement to government authorities who administer import-export particularly industry and commerce sector, financial sector, and the National Chamber of Commerce and Industry.
The notification indicates the implementation of preferential tariff between Lao PDR and Socialist Republic of Vietnam according to the Trade Agreement between the Government of Lao PDR and the Government of Socialist Republic of Vietnam signed on 3 March 2015. This agreement specifies tariff-exempted products, 50% reduced tariff products, and full tariff products for Lao PDR and Socialist Republic of Vietnam.
However, in order to receive this special treatment, products are required to be in consistent with rules of origin, according to the Decision between Ministry of Industry and Commerce of the Lao PDR, and Ministry of Industry and Trade of Socialist Republic of Vietnam on rules of origin on preferential tariff for the import and export of Laos-Vietnam, dated 01 October 2009 (Form S).
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