The Vietnam National Trade Repository (VNTR), a free-to-access online information portal, was officially launched by the Vietnamese Ministry of Industry and Trade (MoIT), in partnership with the UK Government, on March 30.
VNTR, developed by the MoIT and funded by the UK Government, will provide the latest information in both English and Vietnamese on the Southeast Asian nation’s economic integration.
| Delegates attend the launch ceremony of the VNTR. Photos: Phi Nhat |
Speaking at the event, Deputy Minister of Industry and Trade Do Thang Hai emphasized that the establishment of the VNTR fulfills Vietnam’s ASEAN commitments to improve trade policy transparency, facilitate regional trade, and support business community with easier access to information about trade policies of countries in the region so that enterprises can be more proactive in business strategy development and enhancing their competitiveness.
The Minister for Asia at the UK Foreign, Commonwealth & Development Office, Amanda Milling highlighted the UK Government’s belief that free and fair trade is the best way to spread prosperity, and ultimately alleviate the challenges many countries have faced as a global community.
Investors are looking for a favorable way to do business, so the UK Government has coordinated with Vietnamese ministers to provide comprehensive information for investors to easily access information when doing business in Vietnam. This portal is a highlight in cooperation development between the two countries, she added.
“The portal will help strengthen the diversity and inclusivity of our economies by helping micro, small, and medium-sized enterprises, including many companies led by women, to benefit from cross-border trade. I believe it will be a boost for trade and investment in Vietnam,” she underlined.
According to ASEAN Secretary-General Dato Lim Jock Hoi, businesses expected the portal is to help reduce transaction time and costs, be a source of up-to-date information, and enhance policy understanding.
The portal will become an integral part of the ASEAN Trade Repository (ATR), ensuring the transparency of policies, facilitating trade and supporting the business community in the ASEAN region.
The portal covers tariff commitment schedules under the Free Trade Agreements (FTAs) that Vietnam is a party under the ASEAN framework, most favored nation (MFN) and preferential tariffs under the FTAs, rules of origin, trade and customs related legal documents, customs procedures, administrative rulings in trade-related issues relevant to ASEAN economic cooperation, best practices on trade facilitation adopted by ASEAN member states, and the list of prioritized enterprises when implementing import-export procedures and customs clearance of the ASEAN Trade in Goods Agreement (ATIGA) member countries and those, which are signatories to the FTAs between ASEAN and its partners.
The free-to-access online information portal will be accessible at https://vntr.moit.gov.vn.
