The Comprehensive and Progressive Agreement for Trans Pacific Partnership (CPTPP) will come into effect on January 14, 60 days after being ratified by the National Assembly. What have Vietnamese enterprises, especially those with promising opportunities like footwear and textiles, done to make full use of the trade deal? 

 

Garment-textile is among a few light industries to benefit from the CPTPP. The sector’s growth rate is forecast to exceed 10 percent thanks to the new trade deal.

The door is also open wide for exporting leather and footwear products to Chile, Australia, New Zealand, Mexico or Canada.

Besides, other export products such as shrimp, tuna and wood furniture will also get benefits from the CPTPP. Other industries depend much on the enterprises’ preparations to benefit from the deal.

Without the CPTPP, by mid 2018, Vietnam’s export turnover passed 233 billion USD and the country enjoyed a trade surplus of 6.89 billion USD. It is expected that the figures will increase this year thanks to the trade deal.-VNA