Trade Minister talks CPTPP’s impacts on VN’s economy
15:47 | 07/03/2018

VGP – Minister of Industry and Trade Tran Tuan Anh granted an interview to the media on the signing ceremony of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which will be organized on March 8 in Chile. 

Minister of Industry and Trade Tran Tuan Anh

Regarding benefits brought by the CPTPP for Viet Nam’s economy, Mr. Tuan Anh said that benefits for Viet Nam’s economy depends on conditions and implementation of integration commitments and reforms heading to sustainable development and factors creating the added value for the economy. 

Like other nations, Viet Nam not only commits to opening its market, tackling tariff barriers, liberalizing and facilitating trade but also continues pursuing publicity and transparency of State management on market development when joining the CPTPP. 

Commitments are applied on traditional and non-traditional areas, which help improve the competitiveness of the economy and sectors, businesses and products, he added. 

Sectors and areas may gain huge benefits including garments, footwear, food processing, beverage, confectionery, tobacco, wines and beer. 

He affirmed that the activeness in getting access to markets is the key factor to successful integration of businesses. 

Besides opportunities for Viet Nam when participating in the CPTPP, the Minister stressed challenges and difficulties for businesses and people, especially those operating in agriculture and farmers, consumers and disadvantaged people. 

Earlier on November 11, 2017 in Da Nang city, the Trade Ministers of 11 countries have agreed on the core elements of the CPTPP, which demonstrates their firm commitment to open market, combating protectionism, and advancing regional economic integration.

As outlined, the ministers agreed to incorporate provisions of the Trans-Pacific Partnership (TPP), with exception of a limited set of provisions which will be suspended. They decided that all the TPP side letters signed among the 11 countries will be maintained in principle, unless the relevant Parties decide otherwise.

The agreement was reached after three days of intensive negotiations in Da Nang on the sidelines of the APEC Economic Leaders’ Week 2017.

By Thuy Dung 

  Reader opinion
Turn off Vietnamese typing Automatic typing Telex VNI VIQR  
Fullname Email address