Vietnam launches first-ever free trade agreement portal

Hanoi (VNA) - 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.

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

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

It provides a smart online look-up tool for enterprises and others who wish to explore various FTA commitments regarding import duties, rules of origin, and services and investment. It also offers information and knowledge essential to foreign traders, such as market updates and local regulations on imports and exports as well as sustainable development.

Addressing the event, Minister of Industry and Trade Tran Tuan Anh said the introduction of the FTAD demonstrates the Government’s determination to make the contents of FTAs, especially new-generation agreements, more widely known among the business community and society.

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

Vietnam has signed a total of 14 bilateral and regional FTAs, 13 of which have entered into force, including the new-generation Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA). The country has also concluded talks over another FTA while negotiations on two others are underway./.