First protocol amending ASEAN Trade in Goods Agreement approved

30/07/2020 12:00 - 299 Views

The Government has issued a resolution approving the first protocol that amends the ASEAN Trade in Goods Agreement (ATIGA).

The protocol was signed on January 22, 2019.

The Ministry of Industry and Trade is in charge of implementing the protocol in collaboration with the Ministry of Finance and other relevant ministries and agencies. Their work aims to support the business community in capitalising on opportunities, rights and interests brought about by the document.

The Ministry of Foreign Affairs is assigned to complete procedures for related external work before August 1.

ATIGA came into effect on May 17, 2010. The agreement targets the elimination of tariffs to foster trade among Southeast Asian nations, supports joint efforts to handle non-tariff barriers, and promotes customs cooperation inside the bloc.

According to the pact, ASEAN member states offer each other incentives that are equal or higher than those applied for ASEAN’s partners in free trade agreements signed by the bloc.

Source: Vietnam Plus