Vietnam launches portal on free trade agreements

09:00 | 24/12/2020 Events

The Ministry of Industry and Trade (MOIT) has launched a portal to provide information on the free trade agreements that Vietnam has signed, aiming to help local businesses take advantage of the pacts.

The launching ceremony of the Vietnam Free Trade Agreement Portal - Photo: World Bank

The website, known as FTAP, has been created with the assistance of the World Bank and the Australian government, and is now online at https://fta.moit.gov.vn.

The portal provides a searchable database of tariffs in partner countries, trade statistics by goods sector, detailed information on the measures and requirements for importing or exporting for goods, services and investments.

It also boasts an interactive tool to help businesses determine whether a product meets the rules of origin and what steps are needed to meet certification requirements.

The portal also contains legal documents on the implementation of free trade agreements and offers information about workshops and training courses for businesses to join.

Publications supporting businesses are also available on the portal for the public to download for free.

The availability of such services in a single place will help businesses save time and cost compared with having to look for the information they need from different sources.

MOIT Minister Tran Tuan Anh said the rollout of the FTAP conveys the Vietnamese government’s determination to bring new trade pacts closer to businesses and the people.

He stated that the MOIT will continue working with the relevant agencies to update the portal so that it can become increasingly effective in future.

According to the MOIT, Vietnam has signed 14 bilateral and multilateral free trade agreements, concluded negotiations on one other and is negotiating another two.

Among them, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and EU-Vietnam Free Trade Agreement (EVFTA) are the two new-generation agreements.

Theo NDO