(VOVworld)- The Vietnam-EAEU Free Trade Agreement took effect as of October, 2016. Under the agreement, nearly 59% of tax lines will be removed or and 41% of taxes will be reduced creating advantages for Vietnamese products to compete in the EAEU market.

Vietnam’s export of seafood will benefit the most from the agreement. The import taxes of Vietnamese seafood will reduce from 10% to 0%. Vietnam has achieved the flexible rules of origin for some processed and canned seafood products including tuna and shrimps.