Vietnam moves to ratify CPTPP by end-2018: Spokesperson

TIN LIÊN QUAN
	CPTPP benefits Vietnam’s industrial property
	CPTPP, EVFTA to benefit Vietnamese fishery sector

The Vietnamese Ministry of Industry and Trade is completing the documents related to the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) and will submit them to the National Assembly for approval in late 2018, Spokesperson of the Ministry of Foreign Affairs Le Thi Thu Hang said in a regular press conference today. 

Currently, Vietnam along with other members of the agreement are in the process to ratify the deal, complying with each nation’s regulations and head to bring it soon into force, Hang said, adding the trade agreement will be effective within 60 days after the ratification of at least six of its eleven members.

Implementation of the CPTPP can contribute to boosting its members’ economic growth and connection in the region, she noted.

Hang also affirmed the openness of the pact for new members. "All nations are welcomed to participate the CPTPP, as long as it is based upon agreement to the high standards set in the treaty and consent from other member countries.”

Spokeperson of the Ministry of Foreign Affairs Le Thi Thu Hang. (Photo: Nguyen Hong)

CPTPP, the revised version of the TPP will reduce tariffs in 11 economies which covers a market of nearly 500 million people and GDP of US$10 trillion.

President Trump withdrew the US from the TPP in January 2016 just a few days after his inauguration. The 11 remaining nations decided to move the trade pact forward and eventually signed the CPTPP in Chile on March 8 this year.

Recently, President Trump has repeatedly hinted the likelihood that the power may come back to the Pacific Rim pact.

The current eleven CPTPP members are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

Singapore has become the third nation to have ratified the CPTPP after Mexico did it in April and Japan on July 6.

Minister proposes Vietnam-Japan cooperation programme on CPTPP Minister of Industry and Trade Tran Tuan Anh has proposed building a cooperation programme between the Vietnamese and Japanese Governments to effectively enforce the Comprehensive ...

CPTPP likely to lift Vietnam’s garment exports to Australia Vietnam’s turnover from textiles and garment exports to Australia is forecast to reach a double-digit growth after the signing of the Comprehensive and Progressive Agreement ...

CPTPP – a progressive trade direction in 21st century One year after the US’s withdrawal from the Trans-Pacific Partnership (TPP), the remaining 11 Asia-Pacific countries, including Vietnam, have signed a new Comprehensive and Progressive ...