Business

UK hands over national trade repository to Vietnam

The British Government handed over the Vietnam national trade repository (VNTR) to the Vietnamese side at a ceremony on July 13.
UK hands over national trade repository to Vietnam ảnh 1At the handover ceremony (Photo: MoIT)
Hanoi (VNA) – The British Government handedover the Vietnam national trade repository (VNTR) to the Vietnamese side at aceremony on July 13.

The project was launched in 2020 under a letter ofintention signed by the Vietnamese Ministry of Industry and Trade (MoIT) andthe British Department of International Trade, in which the British sideprovided technical assistance for Vietnam.

It demonstrates the Vietnamese Government’s resolveto enhance trade commitment and policy transparency in order to help enterprisesbuild business strategies, and improve competitiveness and capacity for joiningglobal production and supply chains, MoIT Minister Nguyen Hong Dien said.

The VNTR provides information free of charge in bothEnglish and Vietnamese, covering tariff commitments in free trade agreements(FTAs) within the Association of Southeast Asian Nations (ASEAN), to whichVietnam is a signatory, most favoured nation (MFN) tariff, rules of productorigin and non-tariff measures, along with trade documents.
UK hands over national trade repository to Vietnam ảnh 2Minister of Industry and Trade Nguyen Hong Dien speaks at the ceremony. (Photo: VNA)
It also introduces the best trade facilitationpractices applied by ASEAN members, along with the lists of businesses givenpriority in handling tax, export, import, and customs clearance procedures inthe member countries of the ASEAN Trade in Goods Agreement (ATIGA) and the FTAsbetween ASEAN and partner countries.

According to the ASEAN Trade in Goods Agreement(ATIGA), each member country will build its own national trade repository whichis connected with the ASEAN Trade Repository (https://atr.asean.org/) so as toensure policy transparency, facilitate regional trade, and support businesses.

Dien thanked the Government; the Foreign,Commonwealth & Development Office; and the Embassy of the UK in Vietnam along with relevant Vietnamese ministries and agencies for their support and coordinationduring the building of the repository./.
VNA
#British Government #Vietnam national trade repository #Ministry of Industry and Trade #Vietnam #VietnamPlus #Vietnam news
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