Australian wheat sales to Vietnam increased by 44.2 per cent in 2016 to 1.63 million mt according to a report in the Hellenic Shipping News, dated 10 February 2017. Much of the increase is being attributed to competitive pricing which has been greatly supported by AANZFTA (ASEAN-Australia-New Zealand Free Trade Agreement).
Wheat imported into Vietnam faces a 5 per cent tariff. However, under AANZFTA, effective from 1 January 2016, the tariff was removed for Australian wheat which has given it duty free access to Vietnam.
Demand for Australian wheat is expected to continue growing strongly with estimates of Vietnam’s demand for wheat increasing by 67 per cent to 5 million mt in the 12 months to June 2017.
Other items covered by AANZFTA
- A whole raft of other products and services exported from Australia to Vietnam are benefiting from AANZFTA. To see a complete list of these items and the timeline for eliminating/ reducing tariffs, click onto the ASEAN-AUSTRALIA-NEW ZEALAND FREE TRADE AGREEMENT (AANZFTA) AANZFTA FACT SHEETS (CONSOLIDATED), dated 24 February 2009
Related news article
- Vietnam’s 2016-2017 wheat import to surge 67% on year on strong feed demand: USDA, Hellenic Shipping News, 10 February 2017.
Delegates of Australian Grains Industry join Sundowners HCMC on 7 March 2017
The Australian Grains Industry Conference will be held in HCMC on 7 March 2017. The Conference is hosted by Grain Trade Australia (GTA), Australian Oilseeds Federation (AOF) and Pulse Australia (PA). Delegates of this conference will also join AusCham’s Sundowners event on 7 March 2017. For full details, click here. All welcome.
Photo caption: Wheat harvest, taken from the website of the Department of Agriculture and Food, Western Australia (DAFWA).
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