Business

Vietnam launches first-ever free trade agreement portal

The Ministry of Industry and Trade (MoIT) on December 23 held a ceremony in Hanoi to launch the Vietnam Free Trade Agreement Portal (FTAP), at fta.moit.gov.vn, to help the domestic business community make the most of the opportunities brought about by trade deals to which Vietnam is party.
Vietnam launches first-ever free trade agreement portal ảnh 1The Ministry of Industry and Trade (MoIT) on December 23 holds a ceremony in Hanoi to launch the Vietnam Free Trade Agreement Portal (FTAP), at fta.moit.gov.vn. (Photo: VNA)

Hanoi (VNA) - The Ministry of Industryand Trade (MoIT) on December 23 held a ceremony in Hanoi to launch the VietnamFree Trade Agreement Portal (FTAP), at fta.moit.gov.vn, to help the domesticbusiness community make the most of the opportunities brought about by tradedeals to which Vietnam is party.

The launch was attended by Deputy Prime Minister andForeign Minister Pham Binh Minh, World Bank Country Director for Vietnam CarolynTurk, and Ambassador of Australia to Vietnam Robyn Mudie.

The portal, the first of its kind in Vietnam, hasbeen developed by the MoIT and the World Bank, with support from the Governmentof Australia, since February 2019.

It provides a smart online look-up tool forenterprises and others who wish to explore various FTA commitments regardingimport duties, rules of origin, and services and investment. It also offers informationand knowledge essential to foreign traders, such as market updates and localregulations on imports and exports as well as sustainable development.

Addressing the event, Minister of Industry and TradeTran Tuan Anh said the introduction of the FTAD demonstrates the Government’s determinationto make the contents of FTAs, especially new-generation agreements, more widelyknown among the business community and society.

The MoIT will continue to coordinate with relevantagencies and organisations to update and improve the portal and ensure its security,Anh said.

Vietnam has signed a total of 14 bilateral andregional FTAs, 13 of which have entered into force, including thenew-generation Comprehensive and Progressive Agreement for Trans-PacificPartnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA). The countryhas also concluded talks over another FTA while negotiations on two others areunderway./. 
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