Evaluation of impacts of Regional Comprehensive Economic Partnership on Vietnam oil imports
This paper assesses impacts of Vietnam’s participation in the Regional Comprehensive Economic Partnership on its oil import. Based on a partial equilibrium analysis and gravity regression framework, it is clear that potential tariff elimination according to commitments as expected in RCEP is going to boost import volume of oil products and create a huge loss in the tariff revenue of Vietnamese government. While the tariff is gradually removed along with the participation of the country in FTAs, para-tariff and nontariff measures play an increasingly important role as protectionism tools for the infant oil sector in Vietnam.