Under the Finance Ministry’s recent circular on Vietnam’s preferential import tariffs for the 2010-2012 period, 2,200 out of 7,640 tariff lines will enjoy lower AIFTA import tariffs than the current rates applied to most-favoured nations (MFN).

Groups of commodities that will enjoy the tax break include plastic, paper and cardboard, cotton, fibre, clothes, toys, means of transport, products made of stone and gypsum, products made of steel or iron and machines and equipment.

Certain items will be subject to the MFN tax rate where it is lower than that under the AIFTA, according to Circular No. 58/2010/TT-BTC, which will come into effect as of June 1.