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Monday, 14 December 2020 16:05

South Korea, Vietnam collaborate to cumulate origin of textile materials

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The South Korean Ministry of Trade, Industry, and Energy has signed many trade important documents, including an exchange letter with the Government of Vietnam on cumulating of origin of textile materials between the two countries in the EU- Vietnam Free Trade Agreement (EVFTA). As per EVFTA's commitments, to enjoy reduced import tariffs, exporters need to ensure strict compliance to origin requirements of their products. Accordingly, the material fabric used to make clothes must be woven in Vietnam or other EU member countries. However, most textile and apparel materials in Vietnam are currently imported from non-EVFTA member sources.

Therefore, Vietnam has urged EU to include a provision allowing Vietnamese enterprises to add the content of origin of material textiles imported from South Korea- the country that has signed an FTA with the EU - into the garment products produced in Vietnam to enjoy preferential import tariffs when exporting to the EU.