Vietnam, US believe to sign TPP agreement soon

President Truong Tan Sang and the US Acting Trade Representative, Ambassador Demetrios James Marantis believed the two sides will soon reach an agreement on the Trans-Pacific Partnership.
President Truong Tan Sang and the Acting Trade Representative of the US, Ambassador Demetrios James Marantis said they believe Vietnam and the US will soon reach an agreement on the Trans-Pacific Partnership (TPP).

At a meeting with the US acting trade representative in Hanoi on April 23, President Sang affirmed that the Vietnamese Party and State leaders will create conditions for the TPP negotiations to take place smoothly and achieve desired outcomes.

He appreciated the US’s support during the TPP negotiations and urged the US delegation to take time to study the specific investment, trade and labour conditions in Vietnam in order to achieve consensus on many contents during the negotiations.

Vietnam will do its best and at the same time hopes to receive technical assistance from the US for successful negotiations, laying the prerequisite to enhance the Vietnam-US relations, Sang said.

According to the US Ambassador, there are many contents the two countries need to discuss in order to complete TPP negotiations this October.

He said the two sides need to try their best to narrow the differences in their viewpoints about the fields of goods, service and investment, adding that Vietnam and the US should also have a mechanism to agree on standards in the labour and environment and deal with any arising disputes.

He affirmed that the US is willing to provide technical assistance to help Vietnam overcome difficulties in its integration process.

The same day, Deputy Prime Minister Vu Van Ninh received the US Trade Representative at the government’s headquarters.

They agreed that the two sides have achieved important outcomes during the TPP negotiation process and will try their best to narrow differences in the up-coming rounds.

The US Ambassador said the TPP will create opportunities for the two countries and their partners to increase trade and export and create more jobs.

He noted the strong development in US-Vietnam trade, with the US now being the largest export market of Vietnam . Two way trade jumped from 2 billion USD in 2001 to 26 billion USD last year.-VNA

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