Laws to be revised to implement CPTPP

Vietnam will revise some laws to implement the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the drafts will be submitted to the National Assembly in May.

Monday, February 11, 2019 09:10

Laws to be revised to implement CPTPP ảnh 1

An electronic component factory of the Japanese-invested INOAC Vietnam JSC in Quang Minh Industrial Park of Hanoi (Photo: VNA)

Hanoi (VNA) – Vietnam will revise some laws toimplement the Comprehensive and Progressive Agreement for Trans-PacificPartnership (CPTPP), and the drafts will be submitted to the National Assemblyin May.

The laws consist of the 2010 Law on Food Safety,the 2000 Law on Insurance Business, the 2010 law amending and supplementingsome articles of the Law on Insurance Business, and the 2005 Law onIntellectual Property.

The Ministry of Industry and Trade willcoordinate with the Ministry of Agriculture and Rural Development, the Ministryof Finance, the Ministry of Science and Technology, the Ministry of Justice andrelevant sectors to carry out the task.

The CPTPP, which came into force in Vietnam onJanuary 14, saw the participation of 11 member states, namely Australia,Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore,and Vietnam that altogether make up 13.4 percent of the global GDP.

The pact was signed in March 2018 and officiallytook effect on December 30 the same year in Mexico, Japan, Singapore, NewZealand, Canada, and Australia – the first six countries to ratify it.-VNA

VNA

#Comprehensive and Progressive Agreement for Trans-Pacific Partnership #CPTPP #Law on Food Safety #Law on Insurance Business #Law on Intellectual Property #CPTPP member countries #new-generation free trade agreements #updated Vietnam news #Vietnamplus #Vietnam News Agency

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