In the recent three years after the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) took effect, trade revenue between Vietnam and other member countries has seen two-digit growth every year, said Director of the Multilateral Trade Policy Department under the Ministry of Industry and Trade (MoIT) Luong Hoang Thai.
The Philippines has formally expressed interest in joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), with the goal of building new relationships with countries outside its existing bilateral free trade agreements.
The CPTPP Commission’s third meeting was held on August 6 and ended with the approval of a ministerial joint statement reiterating the members’ commitment to back trade liberalization, and multilateral trade.
Vietnam recorded a trade surplus of over 1 billion USD with the 10 other members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in the seven months since the deal took effect in the country in January, according to the General Department of Vietnam Customs.
Preferential export taxes offered by CPTPP are expected to be promulgated this month. However, the tax reduction is only one of the incentives for Vietnamese goods when entering markets, not a ‘lifesaver’ for businesses, said the Ministry of Industry and Trade.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is opening the door wide for Vietnamese tra fish, a major foreign currency earner, to enter the markets of 10 other members of the deal.
Canada is now a promising market for Vietnamese goods as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to open up this market for Vietnamese goods, heard a workshop in Hanoi on April 25.
The domestic market is expected to see considerable changes in 2019 as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) became effective as from January 14, according to market watchers.
The CPTPP is expected to generate more opportunities than challenges for Vietnam’s wood industry, according to Nguyen Ton Quyen, Vice President of the Vietnam Timber and Forest Product Association (VIFORES).
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