A comprehensive trade agreement between Canada and ASEAN will help Vietnam fully tap opportunities offered by free trade agreements and promote the positive impacts of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in areas of common interests, a Canadian official has said.
The United Kingdom recently held talks with all members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership to discuss UK accession to the deal. Emily Hamblin, consul general in Ho Chi Minh City and trade director for Vietnam, talked with VIR’s Thanh Van about the trend of UK investment in Vietnam if the British nation joins the trade pact.
In the trend of strong globalisation with the recently signed CPTPP and EVFTA, meeting international standards by enterprises, especially in the banking sector is essential. These international standards help to affirm banks' position, development potential and brand reputation, therefore creating trust for customers.
In one month and a half, the amount of Vietnamese goods and products that benefit from EVFTA’s preferential treatment is equivalent to that of the CPTPP throughout 2019.
In addition to higher trade turnover, the implementation of the two new-generation and high-standard deals is pushing Vietnam to revise its legal framework to ensure compatibility.
With 16 FTAs in effect or under negotiation, Vietnam has been at the center of a global network of free trade that accounts for 59% of the world population and 68% of global trade.
Viet Nam has taken full advantage of the CPTPP to gain strong growth in exports to Canada and Mexico, according to the Ministry of Industry and Trade (MoIT).
Improving structural reforms and businesses’ competitiveness is critical to efficiently implement the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) in Viet Nam, heard a conference held by the Central Institute for Economic Management (CIEM) on Wednesday in Ha Noi.
Whether Vietnam could take advantage of the CPTPP would depend on the country’s institutional capabilities and local enterprises' adaptability.
A year since the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) came into force, trade between Viet Nam and other members of the trade deal had posted significant gains, but the potential to expand remained large, according to the Ministry of Industry and Trade.