Illustrative image (Source: VNA) Hanoi (VNA) – Vietnam has actively taken actionsto realise the World Trade Organisation’s Trade Facilitation Agreement (TFA)since it took effect on February 22, 2017, said deputy head of the GeneralDepartment of Customs’ International Cooperation Department Nguyen Thi VietNga.
During a press conference in Hanoi on August 22, Nga saidthe TFA is comprised of Category A commitments which are required to be deliveredfrom the date of the TFA’s entry into force, Category B commitments which mustbe realised after a transitional period following the TFA’s validity, andCategory C commitments that will be implemented on a date after a transitionalperiod and require assistance in capacity building.
Vietnam reported the delivery of 15 Category A commitments tothe WTO in July 2014.
The Vietnamese delegation to the WTO reported the country’s roadmapfor delivering 14 Category B and 9 Category C commitments on August 2.
Nga said Vietnam has monitored the delivery of commitmentsregarding information access and transparency, complaint mechanism, customsclearance, and goods temporarily held by agencies for examination, amongothers.
The country has also refined legal regulations, mobilisedtechnical support, and established the National Trade Facilitation Committeeunder the Government’s Decision No.1899/QD-TTg dated October 4, 2016 in orderto realise the commitments.
The TFA will create a driving force to boost global tradeand bring common benefits to WTO member states, especially developing ones,she said, adding that entry to the agreement will help step up the reform,simplification, and improvement of transparency in customs procedures; assistsmall- and medium-sized enterprises in exports; and attract more foreign directinvestment in manufacturing and export, she said.
In the near future, the customs department will continueworking closely with concerned agencies to fine tune legal regulations, while alsoimplementing the national one-stop shop mechanism which will narrow the list ofgoods subject to specialised inspection and put an end to overlapping inspecialised inspection, Nga said.
The TFA was adopted by WTO member states at the ninth WTOMinisterial Conference in Bali, Indonesia on December 7, 2013 and has becomepart of the organisation’s compulsory agreements since November 2014.
It is the first multilateral agreement signed in the 21 yearhistory of the WTO, marking an important milestone in global trade systems andencouraging trade liberalisation.
According to a 2015 global trade report, full TFAdelivery will help cut transaction costs by 14.3 percent on average and fuelglobal trade by 1 trillion USD each year. It will also save 1.5 days of customsclearance for imported goods, down 47 percent from the present average andnearly 2 days of customs clearance for exported ones, down 91 percent. –VNA
During a press conference in Hanoi on August 22, Nga saidthe TFA is comprised of Category A commitments which are required to be deliveredfrom the date of the TFA’s entry into force, Category B commitments which mustbe realised after a transitional period following the TFA’s validity, andCategory C commitments that will be implemented on a date after a transitionalperiod and require assistance in capacity building.
Vietnam reported the delivery of 15 Category A commitments tothe WTO in July 2014.
The Vietnamese delegation to the WTO reported the country’s roadmapfor delivering 14 Category B and 9 Category C commitments on August 2.
Nga said Vietnam has monitored the delivery of commitmentsregarding information access and transparency, complaint mechanism, customsclearance, and goods temporarily held by agencies for examination, amongothers.
The country has also refined legal regulations, mobilisedtechnical support, and established the National Trade Facilitation Committeeunder the Government’s Decision No.1899/QD-TTg dated October 4, 2016 in orderto realise the commitments.
The TFA will create a driving force to boost global tradeand bring common benefits to WTO member states, especially developing ones,she said, adding that entry to the agreement will help step up the reform,simplification, and improvement of transparency in customs procedures; assistsmall- and medium-sized enterprises in exports; and attract more foreign directinvestment in manufacturing and export, she said.
In the near future, the customs department will continueworking closely with concerned agencies to fine tune legal regulations, while alsoimplementing the national one-stop shop mechanism which will narrow the list ofgoods subject to specialised inspection and put an end to overlapping inspecialised inspection, Nga said.
The TFA was adopted by WTO member states at the ninth WTOMinisterial Conference in Bali, Indonesia on December 7, 2013 and has becomepart of the organisation’s compulsory agreements since November 2014.
It is the first multilateral agreement signed in the 21 yearhistory of the WTO, marking an important milestone in global trade systems andencouraging trade liberalisation.
According to a 2015 global trade report, full TFAdelivery will help cut transaction costs by 14.3 percent on average and fuelglobal trade by 1 trillion USD each year. It will also save 1.5 days of customsclearance for imported goods, down 47 percent from the present average andnearly 2 days of customs clearance for exported ones, down 91 percent. –VNA
VNA
