At a garment-textile factory in Da Nang city (Illustrative photo: VNA) Hanoi (VNA) – Vietnam’s textiles enjoying preferential export tariff to the Eurasian Economic Union (EAEU) are likely to surpass the trigger level which results in the application of a safeguard measure cited in the Vietnam-EAEU Free Trade Agreement (VN-EAEU FTA), the Ministry of Industry and Trade (MoIT) has warned.
In a diplomatic note sent to the MoIT on September 15, the Eurasian Economic Commission noted that women’s wear shipped from Vietnam from the start of the year to July hit 79.4 percent of the trigger level.
According to the MoIT, the EAEU may apply a trigger safeguard measure for Vietnamese goods in case the import volumes during a calendar year exceed the trigger level.
Depending on the exceeding import volumes, Vietnam’s textiles may face most favoured nation (MFN) treatment for six or nine months.
Firms exporting such products to the EAEU are advised to devise plans in an appropriate, timely and effective manner./.
