On July 19, the Ministry of Foreign Affairs spokesman Le Thi Thu Hang said that the Ministry of Industry and Trade is finalizing the CPTPP document to submit to the National Assembly at the end of the year. .
 

 

At present, the Head of the negotiating delegations of the member countries of the Comprehensive Partnership and Trans-Pacific Partnership (CPTPP) are meeting in Japan. CPTPP can have more members.

Spokesperson Le Thi Hang Hang said that CPTPP will come into effect 60 days after at least 6 member countries have completed the approval procedure.

"Vietnam and its member countries are carrying out procedures for the ratification of the CPTPP, in accordance with the laws of each country in order to put the agreement into operation soon, promoting economic cooperation for mutual benefits. member countries, contributing to the growth of regional economic integration. " Ms. Hang said.

The Ministry of Industry and Trade is currently completing the dossier for submission to the National Assembly at the end of this year.

With the expansion of CPTPP members, Hang said that this is an open FTA, whereby countries can join after the agreement goes into effect on the basis of a free trade agreement. Accept the standards and be agreed by CPTPP member countries.

Prior to this, the United States officially withdrew from the Trans-Pacific Partnership (TPP) agreement, with 11 remaining countries including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. has continued to promote and reach agreement on the new name of the TPP Agreement, the CPTPP Agreement.

This Agreement essentially retains the content of the TPP Agreement but allows Member States to postpone a number of obligations to ensure a balance in the new context.

The CPTPP was officially signed by 11 countries in Santiago, Chile in March this year. The CPTPP is considered a high standard FTA, not only referring to traditional areas such as tariff reductions for goods, services market opening, intellectual property, Technical barriers related to trade, but also dealing with new and non-traditional issues such as labor, environment, procurement by the Government, State enterprises.
 

The CPTPP is a precursor to furthering deeper regional cooperation, including the possibility of returning to the United States and the participation of other countries.

Vinatex.com