Vietnam most supportive of TPP among member nations: Edelman
Vietnam most supportive of TPP among member nations: Edelman
Vietnamese businesses and consumers have the strongest belief among the Trans-Pacific Partnership (TPP) countries that the trade pact will benefit their economy, a poll by leading PR firm Edelman finds.
Ninety-three percent of the Vietnamese businesses and 96 percent of the consumers believe that the TPP trade pact, which was reached by 12 participating nations on October 5 in the southern U.S. city of Atlanta, will be beneficial to their economy, according to the survey.
Edelman said it had polled 1,000 businesses and 1,000 consumers in ten TPP nations, excluding Brunei and Peru, from October 7 to 9.
The results show that the TPP accord is largely viewed in a positive light and there is significant awareness of the agreement.
Fifty-two percent of the businesses surveyed feel they are prepared for the TPP, and 53 percent think it will have a positive impact on jobs and employment.
Businesses across the TPP nations feel that “cross-border relationships” and “access to products and services” are the most positive aspects of the pact, and that “rules and regulations” are the most negative aspect of the accord.
Awareness of the TPP across businesses is highest in New Zealand and Japan at 97 percent and lowest in Mexico at 66 percent, according to the poll.
In the meantime, 67 percent of the consumers polled feel that the TPP will be beneficial to the economy, whereas only 47 percent think the accord will benefit themselves and their families.
The survey also found that 40 percent of the consumers are worried about the impact of the TPP on their jobs and employment.
U.S. consumers had the lowest awareness of the TPP at 40 percent, while Japan had the highest awareness at 95 percent.
Malaysian consumers were the most skeptical of the trade pact, with only 49 percent believing it will be beneficial to their economy, according to the survey.
“Although the TPP has yet to be ratified, there is a broad consensus that it will happen in a year or so,” Chadd McLisky, managing director of the Edelman Southeast Asia & Australasia Corporate practice, said in a statement.
McLisky said even if the pact is slowly rolled out over the next ten years, no one in any of the member markets can be complacent.
People should start to review their brand values and business models right now, he said.
“All member markets have different priorities, but ultimately all companies are going to face significant new challenges in their marketing and business operations,” he concluded.
Edelman is a leading global communications marketing firm that partners with many of the world's largest and emerging businesses and organizations.
