Malaysia, Chile, Brunei eligible for preferential CPTPP exim tariffs

11 Sep '23

1 min read

Pic: haryo setyoprojo / Shutterstock

Insights

Vietnam's ministry of industry and trade recently said Malaysia, Chile and Brunei are now eligible for preferential import and export tariffs under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
A decree to this effect was issued by the government on September 7.
The agreement took effect in Vietnam in January 2019.

Vietnam’s ministry of industry and trade (MoIT) recently said Malaysia, Chile and Brunei are now eligible for preferential import and export tariffs under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

A decree to this effect was issued by the government on September 7, a news agency reported.

CPTPP took effect in Malaysia in November 2022, and in Chile and Brunei in February and July this year respectively. The agreement took effect in Vietnam in January 2019.

CPTPP was signed by 11 member states—Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam—in March 2018. The United Kingdom joined it on July 16, 2023.

It officially came into force on December 30, 2018, with Mexico, Japan, Singapore, New Zealand, Canada and Australia being the first six countries to ratify the pact.

Fibre2Fashion News Desk (DS)

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