Vietnam National Trade Repository to make debut
Vietnam National Trade Repository to make debut
The Vietnam National Trade Repository (VNTR) has been completed and is set to make its debut on March 30, according to the Ministry of Industry and Trade (MoIT).
The Vietnam National Trade Repository (VNTR) has been completed and is set to make its debut on March 30, according to the Ministry of Industry and Trade (MoIT).
According to the ASEAN Trade in Goods Agreement (ATIGA), each member country will build its own national trade repository which will be connected with the ASEAN Trade Repository so as to ensure policy transparency, facilitate regional trade, and support businesses.
The MoIT said the portal, developed by the ministry with support from the British Government through the British Embassy in Vietnam, provides updated trade information in both English and Vietnamese.
It is connected with the ASEAN Trade Repository at https://atr.asean.org/ to guarantee the country’s compliance with the rule on information transparency in ATIGA.
The portal is also meant to facilitate regional trade and give enterprises easier access to information about Vietnam’s commitments in terms of trade in goods, trade in services, and investment within the ASEAN economic cooperation framework. This will help firms stay more proactive in their business strategies, improve their competitiveness, and adhere to regulations when conducting trade transactions, according to the MoIT.
In particular, the VNTR will be a source of information for micro-, small-, and medium-sized enterprises to create their own competitive edges in the Vietnamese market, the ministry said, adding that clear and accessible information are critical to encouraging businesses to conduct more international transactions, thereby promoting economic development.
