First-ever free trade agreement portal expected to support domestic firms

The first-ever Vietnam Free Trade Agreement Portal (FTAP), at fta.moit.gov.vn, is expected to help domestic firms optimise trade deals.
December 24, 2020 | 11:06
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The first-ever Vietnam Free Trade Agreement Portal (FTAP), at fta.moit.gov.vn, was launched in Hanoi on December 23. Photo: VNA

The first-ever Vietnam Free Trade Agreement Portal (FTAP), launched in Hanoi on December 23 at fta.moit.gov.vn, is expected to help domestic firms optimise trade deals to which Vietnam is a signatory.

The launch was held by the Ministry of Industry and Trade (MoIT) with the attendance of 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.

With the support of the Government of Australia, the MoIT and the World Bank have embarked on the building of the portal, the first of its kind in Vietnam, since February 2019.

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Vietnam has signed a total of 14 bilateral and multilateral FTAs. Photo: VnExpress

The portal provides a smart online look-up tool for enterprises and those that wish to explore various FTA commitments regarding import duties, rules of origin, and services and investment.

Information and knowledge essential to foreign traders, such as market updates and local regulations on imports and exports as well as sustainable development, are also available at the portal.

Minister of Industry and Trade Tran Tuan Anh said at the launching ceremony that the introduction of the FTAP mirrors the Vietnamese Government’s resolve to popularise FTAs, especially new-generation agreements, among the business community and society.

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

Vietnam has signed a total of 14 bilateral and multilateral FTAs, 13 of which have entered into force.

The deals comprise ASEAN Trade in Good Agreement (ATIGA), Regional Comprehensive Economic Partnership (RCEP), Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), ASEAN-India, ASEAN-Australia-New Zealand, ASEAN-South Korea, ASEAN-China, ASEAN-Japan, ASEAN-Hong Kong, Vietnam-Chile, Vietnam-Japan, Vietnam-South Korea, Vietnam- Eurasian Economic Union and Vietnam-EU.

The country has also concluded talks over another FTA while negotiations on two others are underway.

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