First batch of fragrant rice exported to EU at zero tariff

Vietnam will ship its first batch of fragrant rice to the EU at a zero tariff rate under the EU-Vietnam Free Trade Agreement (EVFTA) at the end of this month, according to the Ministry of Agriculture and Rural Development.

This shipment contains nearly 130 tonnes of Jasmine 85 fragrant rice from Loc Troi group. The group’s Chairman Huynh Van Thon said EVFTA tax incentives will make Vietnamese farm produce more competitive in the EU market.

“The shipment demonstrates that Vietnamese products have met the EU’s standards. The zero tariff is a big deal but the EU’s recognition of the quality of our rice is more important. It will serve as a steppingstone for us to restructure rice production, improve quality, and reorganize production systems for sustainable growth,” he said.

The EU has earmarked Vietnam a quota of 80,000 tonnes of rice with a zero per cent tax rate per year. Vietnam’s export turnover to the EU reached nearly 3.8 billion USD last month.

Source: VOV5