Vietnamese fabrics exempted from Indonesia’s new import tariffs

TIN LIÊN QUAN
	Over 900 firms to attend textile fair in HCM City
	Vietnam’s textile-garment heavily relies on imported fabrics

Workers at a fabric factory in Vietnam. (Photo: VNA)

Aside from Vietnam, other countries and territories exempted from the safeguard measures include the Republic of Korea and Hong Kong (China) for the imports of synthetic yarn and curtains, as well as India also for fabrics, according to the Indonesian Finance Ministry.

In 2019, the Indonesian government imposed temporary additional duties on imports of textiles and textile products up to 67.7 percent.

The fresh move is a safeguard measure to protect the domestic upstream industry from a recent surge in imports and encourage the use of domestic market products.

Previously, Moody’s Investors Service warned that the US-China trade tensions could lead to an influx of Chinese yarn, fabrics, and garments into Indonesia. It said, potentially disrupting the so far stable levels of demand and supply in Indonesia.

Moody’s explained that tariffs imposed by the US on Chinese textile exports are at 25 percent versus the 10-15 percent that Indonesia has implemented.

Japanese newspaper: EVFTA to lift Vietnam’s post-COVID-19 pandemic growth Japanese daily Nihon Keizai ran an article on May 20 saying that the EU-Vietnam Free Trade Agreement (EVFTA), to be ratified by Vietnam’s legislature shortly, ...

Gov’t to issue lists of preferential tariffs under EVFTA The Government is set to issue a decree on the lists of preferential export tariffs and special preferential import tariffs to implement the EU-Vietnam Free ...

CPTPP tariff cuts and SOE monopoly removal usher in opportunities In a bid to attract more investment and expand trade, Vietnam will soon officially implement its commitments to decrease and remove export and import tariffs, ...