On May 19, representatives from the Global Alliance for Trade Facilitation (GATF) and the General Department of Vietnam Customs signed an agreement to establish a customs bond system in Vietnam. A customs bond system would allow imports to enter the country relatively quickly, but importers would be subject to stiff financial and/or legal penalties for up to five years if the cargo information provided is incorrect or falsified. The U.S. Government and GATF have co-funded this new program with Australia, Canada, Germany, and United Kingdom along with the participation of 12 private sector brands. Vietnam is the first country to initiate an assistance program with the GATF, which aims to encourage implementation of the World Trade Organization (WTO) Trade Facilitation Agreement that came into force in February 2017. Officials from USAID and GATF met with Government of Vietnam officials and private sector companies to plan next steps to initiate this three-year activity.