Free Trade Agreements (FTAs) bring abundant advantages in commercial activities for participating member countries. As of early 2022, Vietnam has joined 15 FTAs with various countries and territories around the world.
In order to assist in accessing information, technical standards, and regulations on management of imported and exported goods and services of FTA members, pursuant to Decision No. 121/QD-TTg dated On January 24, 2019, the Ministry of Industry and Trade and the relevant authorities have built the Vietnam Free Trade Agreement Portal (“FTAP”). Since early 2021, the FTAP at https://fta.moit.gov.vn/ has put into operation.
In order to create a clear legal basis for the FTAP operation, on November 9, 2022, the Ministry of Industry and Trade issued Decision 2371/QD-BCT (“Decision 2371”) issuing the operating regulations of the FTAP.
Decision 2371 has the following main contents:
Main functions of FTAP:
- A website to look up for commitments of all FTAs that Vietnam participates in, including commitments on taxes, rules of origin, services and investment, and update the content of FTAs and trade agreements of which Vietnam is a member;
- Provide business support information such as domestic and foreign market situation, import and export regulations of Vietnam and partner countries, remedies on trade, labor, environment, sustainable development , intellectual property, etc.;
- Update legal documents related to FTAs;
- Update the enforcement of FTAs;
- Connect with websites of Ministries, branches, Vietnamese overseas representative missions, local management agencies and websites of associations, etc.;
- Provide and share digital publications, online courses on FTA-related contents.
FTAP Working Group:
The FTAP Working Group consists of representatives of the Ministries and branches who are responsible for coordinating to provide information on the FTAP. The Ministry of Industry and Trade is the host.
Information provision mechanism:
- Information on the FTAP is received from official sources. Units providing information to the FTAP must be responsible for the accuracy, completeness and timeliness of the information provided.
- The information provision must be promptly after the completion, for example: within 03 working days from the time the activity or event occurs; or within 07 working days after the legal document or regulation is promulgated; or within 10 working days after completing research, synthesis and evaluation papers; or within 15 working days after receiving questions, comments from readers, etc.
Decision 2371 takes effect from the date of signing.
Comment: