Related Keywords: AKFTA, ASEAN Korea free trade agreement, certificate of origin norms, FTA, growth in Vietnam textile and garment industry, largest importer of textiles and garments, South Korea garment market, Vitas, zero tariff
The ASEAN - Korea Free Trade Agreement (AKFTA) led to a significant growth in Vietnam's textile and garment industry. According to its open-access commitment, Vietnamese textile and garment products that satisfy certificate of origin norms will enjoy zero tariffs once the agreement takes effect from January 1, 2016. Currently, Vietnamese firms pay a tax of 8 to 13 percent.
