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Details have been released about tariffs that will be scrapped regarding paints and coatings and related ingredients, exported and imported between Vietnam and the European Union (EU) under a trade deal struck last August (2015). The full text of the agreement has now been released and shows how Vietnam is prepared to remove its tariff barriers to EU exports of paints and coatings, many of which are important to promote its economic development.
For instance, it has promised to scrap 10% duties on anti-fouling or anti-corrosive paints for ships’ hulls within six years of the deal coming into force, which could happen this year. It has made the same promise for 10% duties currently levied on EU-made varnishes. Vietnam said it would take four years to phase out 5% duties on leather paints. And six years to scrap 20% duties on EU-made polyurethane tar coatings. Also, 3% tariffs on EU-exported paint and varnish removers would be abolished as soon as the deal enters into force.
Vietnamese exports of paints and coatings to the EU are not expected to be as significant but the EU will also scrap tariffs on these products when exported from Vietnam. Indeed, EU 6.5% duties on liquid and non-liquid paints will be scrapped once the deal comes into force.
Details on more general agreements on reducing trade and investment restrictions have also been released. This includes chapters on reducing technical barriers to trade; trade in services; e-commerce; customs and trade facilitation; government procurement; and trade remedies.
For further details: http://trade.ec.europa.eu/doclib/docs/2016/february/tradoc_154201.pdf – Vietnamese duties to be phased out; http://trade.ec.europa.eu/doclib/docs/2016/february/tradoc_154200.pdf – EU duties to be phased out; http://trade.ec.europa.eu/doclib/docs/2016/february/tradoc_154199.pdf – explanation of duty phase-out schedules; and http://trade.ec.europa.eu/doclib/docs/2016/february/tradoc_154210.pdf investment provisions
• Elsewhere in the EU, the European Chemicals Agency (ECHA) has started a public consultation on potentially authorising the use of toxic chemical 1,2-dichloroethane (EDC) as a solvent in polymer production. It follows an application by Germany’s BASF to use the chemical in a closed system for purification of 1,3,5-trioxane. See http://echa.europa.eu/addressing-chemicals-of-concern/authorisation/applications-for-authorisation
• Meanwhile, ECHA has granted the European Chemical Industry Council (Cefic) access to data from the EU agency’s chemicals database to develop a new tool for predicting toxicity of chemicals. Its new software AMBIT is designed to boost chemical informatic data management and includes a database of more than 450,000 chemical structures and functional modules, allowing data to be searched and mined to avoid unnecessary testing on animals. See http://cefic-lri.org/lri_toolbox/ambit/
