Concerted efforts have been made by Vietnam to fully implementcommitments under the World Trade Organisation (WTO)’s TradeFacilitation Agreement (TFA), it was revealed at a conference held innorthern province of Lao Cai province on May 18.

In his openingremarks, Vu Ngoc Anh, Deputy Director General of Vietnam Customs, saidthat the agreement contains provisions for expediting the movement,release and clearance of goods.

He highlighted that it also setsout measures for effective cooperation between customs departments andother appropriate authorities on trade facilitation and customscompliance issues.
Nguyen Toan, head of Vietnam Customs’International Cooperation Department, highlighted that Vietnam hasimplemented 15 commitments from the Category A list.

Thecountry is preparing to establish a national committee on tradefacilitation or an equivalent mechanism in line with the TFA’srequirements.

Relevant ministries are fulfilling documentsrelated to Category B and C to submit for the Government’s approval andfor the records of the WTO.

Categories B and C comprise of 23provisions about things such as information announcements, facilitatingtrade conditions for prioritised enterprises, online payments and riskmanagement.

The TFA will help reduce trade costs whilegiving opportunities for governments to create jobs and increase incomefor their residents, Toan said, underscoring that it also helpsenterprises shoot up their competitiveness, boost production and enlargetheir markets.

At the event, Peter Bennett, advisoron trade facilitation from the USAID Governance for Inclusive Growth(GIG) programme said that USAID will give guidance for developing andunderdeveloped countries to evaluate technical support demands and buildcapacity.

According to the Organisation for EconomicCooperation and Development (OECD), the ATF is expected to reduce tradeexpenditure by 14.5 percent for low-income countries, 15 percent forlower middle-income countries and 13.2 percent for upper middle-incomecountries.-VNA