Vietnam'S Textile And Clothing Exports To ASEM May Be Subject To Special Defense Measures Of Quota
Vietnam's "Customs online" reported on March 15 that Vietnam's Ministry of industry and trade has received an official letter from the Asia Europe Economic Commission (EEC) that Vietnam's textile and clothing exports to the ASEM have exceeded the preferential tariff quotas stipulated in the FTA between Vietnam and ASEM.
In 2020, the tight clothes, pullovers, button down coats and cardigans exported from Vietnam with customs code hs6110 to ASEM have exceeded the preferential import quota (up to 1640900 kg, and the quota is 1519400 kg).
Although the amount is not too large, according to the provisions of Article 2, paragraph 10 of the FTA, Vietnam's textile and clothing exports to ASEM are at risk of being subject to special defense measures of quota.
Accordingly, according to the actual situation of exceeding the quota, the most favored nation tariff rate for 6 or 9 months will be applied to Vietnam's textile and garment industry.
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