UK hands over national trade repository to Việt Nam

July, 14/2022 - 13:13
The VNTR provides information free of charge in both English and Vietnamese, covering tariff commitments in free trade agreements (FTAs) within the Association of Southeast Asian Nations (ASEAN), to which Việt Nam is a signatory.

 

Minister of Industry and Trade Nguyễn Hồng Diên speaks at the ceremony. — Photo VNA

HÀ NỘI — The British Government handed over the Vietnam national trade repository (VNTR) to the Vietnamese at a ceremony on July 13.

The project was launched in 2020 under a letter of intent signed by the Vietnamese Ministry of Industry and Trade (MoIT) and the British Department of International Trade. The British side provided technical assistance for Việt Nam.

It demonstrates the Vietnamese Government’s resolve to enhance trade commitment and policy transparency to help enterprises build business strategies, and improve competitiveness and capacity for joining global production and supply chains, MoIT Minister Nguyễn Hồng Diên said.

The VNTR provides information free of charge in both English and Vietnamese, covering tariff commitments in free trade agreements (FTAs) within the Association of Southeast Asian Nations (ASEAN), to which Việt Nam is a signatory, most favoured nation (MFN) tariff, rules of product origin and non-tariff measures, along with trade documents.

It also introduces the best trade facilitation practices applied by ASEAN members, along with the lists of businesses given priority in handling tax, export, import, and customs clearance procedures in the member countries of the ASEAN Trade in Goods Agreement (ATIGA) and the FTAs between ASEAN and partner countries.

According to the ATIGA, each member country will build its own national trade repository, which is connected with the ASEAN Trade Repository (atr.asean.org) to ensure policy transparency, facilitate regional trade, and support businesses.

Diên thanked the Government, the Foreign, Commonwealth & Development Office, and the Embassy of the UK in Việt Nam, along with relevant Vietnamese ministries and agencies, for their support and coordination while building the repository. — VNS

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