After four months of implementing CPTPP, Vietnam’s trade with Canada, Mexico and Japan has increased by over 70 per cent, 8 per cent and 4 per cent, respectively.
Businesses are certain to benefit from greater clarity at a time of trade-policy turbulence as well as from improved access to 500 million consumers when the Comprehensive and Progressive Agreement for Trans-Pacific Partnership goes live in Vietnam today.
Joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership offered Vietnam enormous challenges, which called for the determination and effort of the entire society to overcome and make full use of the benefits it brought about, according to high profile banking expert, PhD. Nguyen Tri Hieu.
Receiving approval from all of the 469 deputies in attendance, the National Assembly officially ratified the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and other relevant documents.
According to international organizations, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) would bring huge economic benefits to Vietnam.
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Joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, Vietnam will not only commit to open the market, remove tariff barrier, promote trade liberalization and facilitation but also promote the publicity and transparency of state management in market development.
The Trans-Pacific Partnership has received a new name, Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), underlining the participation of 11 nations without the US.
