First duty-free ASEAN cars arrive in VietnamOver 2,000 Honda cars from Thailand - the first batches of cars to enjoy zero percent import duty under the ASEAN Free Trade Agreement (AFTA) have been imported to Vietnam. A Honda CR-V car (Photo: caranddriver)Under the AFTA commitments, a zero percent tax is applicable to cars imported from the bloc, with a localisation rate of 40 percent or more in the country of origin, starting January 1 this year. “The price of each car is expected to fall by more than 200 million VND. Earlier, the insiders calculated that with the zero percent import tax, the price of imported cars from ASEAN countries to Vietnam would fall by 20-25 percent. Toyota Motor Vietnam and Ford Vietnam are completing procedures to meet the requirements of Decree 116 to import cars which are favourites in Vietnam, such as the Ford Explorer, Everest, Ranger, Toyota Fortuner and Yaris.-VNA