WB to Support Vietnam to Implement Trade Facilitation Agreement

The World Bank (WB) and the General Department of Vietnam Customs under the Finance Ministry signed a deal to support Vietnamese customs to implement the World Trade Organization’s Trade Facilitation Agreement (TFA). Under the agreement, the WB will help the General Department of Vietnam Customs develop the country trade information portal which is due to be launched in the next eight months. The objective of the portal is to make all regulatory trade-related information useful to Vietnamese exporters and importers easily and readily available in a single integrated website, provide transparency and consistency of trade procedures, and in doing so, increase the compliance level and reduce the cost of doing business at border crossings. The WB will also help establish a National Committee on Trade Facilitation, making it easier for Vietnam to fulfill TFA's terms based on the assessment of ministries and agencies’ readiness for complying with commitments. In April, 2015, the Government Office issued a document on the Prime Minister’s conclusion regarding administrative reform in the customs sector, under which the National Steering Committee on ASEAN and National Single Window Mechanisms, is expected to play the role of the National Committee on Trade Facilitation. (vneconomy.vn Jan 13, cand.com.vn/ Jan 13)