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Import Fabric from South Korea to Vietnam
South Korea is not only one of the four major export markets of the textile and apparel industry (turnover of over 3 billion / year) but also an address of importing fabrics and raw materials for many years from the industry scale 40 billion USD.
With practical experience in handling importing Fabric from South Korea to Vietnam, in this article, Logistics HP Global summarizes the contents related to importing Fabric from South Korea to Vietnam: Vietnam’s governmental management policy on importing Fabric from South Korea to Vietnam; Import procedures for Fabric from South Korea to Vietnam; Taxes on importing Fabric from South Korea to Vietnam;… …
Ban on import, export
According to the current regulation, Fabric from South Korea to Vietnam is not in the List of prohibited imports into Vietnam, so the enterprise can do the import procedure pursuant to current stipulations.
For more information, read the article List of prohibited imports into Vietnam
Duties, Taxes on importing Fabric from Korea to Vietnam
When importing Fabric from South Korea to Vietnam, the importer needs to pay import duty and value added tax (VAT).
VAT on Fabric from Korea to Vietnam: 10%
Preferential import duty rate on Fabric from Korea to Vietnam:
Vietnam and Korea signed FTA ASEAN – South Korea and FTA Vietnam – South Korea, therefore when importing Fabric from South Korea to Vietnam,
+ If related requirements under the FTA are met, importer can enjoy special preferential import duty rate under FTA ASEAN – South Korea and FTA Vietnam – South Korea, accordingly, special preferential import duty of Fabric from Korea is from 0% and 20%
For more details, refer Special preferential import tariff Vietnam – South Korea and FTA ASEAN- South Korea here
+ If related requirements under the FTA are not met, importer can enjoy preferential import duty rate as above
For more details on import duty, HS code of Fabric, refer the article Import procedure of Fabric
For more detail on import – export relations between Vietnam and Korea, refer the article: Import – Export turnover Vietnam – South Korea
Policy on importing Fabric from South Korea to Vietnam
Governmental management on Fabric from South Korea to Vietnam
Basing on Circular No. 21 (No. 21/2017 / TT-BCT) effective from January 1st, 2019, textile products listed in Annex I of QCVN: 01/2017 / BCT Enclosed with Circular No. 21 (except for products with HS code 9619), the declaration of conformity is made before such products are put on sale in Vietnam market.
Customs procedure of import Fabric from South Korea to Vietnam into Vietnam
Customs procedure of importing Fabric from South Korea to Vietnam into Vietnam is the same as other common commodities
In addition, to enjoy the preferential import tax rates under the free trade agreement as mentioned above, enterprises need to submit the Certificate of Origin in the form of the agreement.
Label for import Fabric from South Korea to Vietnam
According to current stipulation, cargo imported into Vietnam need to have sufficient label
Shipping Cost and time for importing Fabric from Korea to Vietnam
Shipping costs and transportation time are closely related. Depending on the nature of the commodity and requirement of the shipment, international transportation mode can be by sea, air, road, rail and express delivery. The enterprise should consider to make the most appropriate decision.
Usually fabric goods are shipped by sea, full or less containers.
Related articles:
Special preferential import tariff Vietnam – South Korea
Import – Export turnover Vietnam – Korea
For more detailed advice on import procedures, shipping methods and estimate for the full shipping cost, please contact us – Logistics Service Provider for importing Fabric from KOREA to Vietnam
Hp Global Company Limited
Freight forwarder and Customs Brokerage
Room 2308, CT2 Van Khe, La Khe, Ha Dong, Hanoi
Website: hpgloballtd.com/hptoancau.com
Email: info@hpgloballtd.com
Phone: ++ 84 24 73008608 / Hotline: ++84 98 487 0199
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