• An Giang
  • Binh Duong
  • Binh Phuoc
  • Binh Thuan
  • Binh Dinh
  • Bac Lieu
  • Bac Giang
  • Bac Kan
  • Bac Ninh
  • Ben Tre
  • Cao Bang
  • Ca Mau
  • Can Tho
  • Dien Bien
  • Da Nang
  • Da Lat
  • Dak Lak
  • Dak Nong
  • Dong Nai
  • Dong Thap
  • Gia Lai
  • Ha Noi
  • Ho Chi Minh
  • Ha Giang
  • Ha Nam
  • Ha Tinh
  • Hoa Binh
  • Hung Yen
  • Hai Duong
  • Hai Phong
  • Hau Giang
  • Khanh Hoa
  • Kien Giang
  • Kon Tum
  • Lai Chau
  • Long An
  • Lao Cai
  • Lam Dong
  • Lang Son
  • Nam Dinh
  • Nghe An
  • Ninh Binh
  • Ninh Thuan
  • Phu Tho
  • Phu Yen
  • Quang Binh
  • Quang Nam
  • Quang Ngai
  • Quang Ninh
  • Quang Tri
  • Soc Trang
  • Son La
  • Thanh Hoa
  • Thai Binh
  • Thai Nguyen
  • Thua Thien Hue
  • Tien Giang
  • Tra Vinh
  • Tuyen Quang
  • Tay Ninh
  • Vinh Long
  • Vinh Phuc
  • Vung Tau
  • Yen Bai

Practical benefits from effective CPTPP

VGP – The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) officially came into effect since January with practical benefits for 500 million people.

January 15, 2019 2:31 PM GMT+7

The Ministry of Industry and Trade (MoIT) reported that out of 11 signatories, CPTPP is one of the global largest trade deal which covers nearly 500 customers and accounts for about 13.5% of global GDP.

The 11 economies include Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Viet Nam.

Viet Nam’s advantageous exports namely agriculture, aquaculture, electricity, and electronics enjoy tax exemption once the document took effect. Viet Nam’s total export turnover is forecast to increase by 4.04% and the country’s import revenue will increase by 3.8% by 2035. The CPTPP will bring about 20,000 to 26,000 jobs. 

However, CPTTP only helps Viet Nam access three additional markets as out of 10 CPTPP signatories Viet Nam has already inked FTA with seven countries in the types of bilateral or multilateral, or both. 

Specifically, with Australia and New Zealand, Viet Nam inked the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA); with Brunei, Malaysia, Singapore, Viet Nam had ASEAN Free Trade Agreement; with Chile, Viet Nam has Viet Nam-Chile FTA; with Japan, Viet Nam has the Viet Nam-Japan Economic Partnership Agreement (VJEPA) and ASEAN – Japan Comprehensive Economic Partnership (AJCEP).

Hence, this is the first time Viet Nam has FTA with Canada, Mexico, and Peru.

Viet Nam has run a trade surplus with the three additional markets over the past years. In 2017, Viet Nam shipped US$ 2.34 billion to Mexico and imported US$ 567 million. The Southeast Asian nation exported US$ 2.7 million of goods to Canada and imported US$ 774 million. Viet Nam exported US$ 331 million of goods to Peru and imported US$ 117 million./.

By Kim Loan