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CPTPP enters into force for Vietnam

14/01/2019 09:53 AM

Today, 14 January 2019, the CPTPP will enter into force for Vietnam. The CPTPP was signed by the 11 countries on 8 March 2018 in Santiago, Chile.

The CPTPP entered into force on 30 December 2018 for: Australia, Canada, Japan, Mexico, New Zealand, Singapore.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a free trade agreement (FTA) between Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore and Vietnam.
The calculation of the National Center for Socio-Economic Information and Forecasting (Ministry of Planning and Investment) shows that CPTPP will help Vietnam GDP increase 1.7 billion USD, more than 4 billion USD for export, increase. respectively 1.32% and 4.04% to 2035.

Basically the content of the TPP agreement remains the same, but CPTPP allows member countries to postpone a few obligations to ensure balance in the new context.
With CPTPP, for the first time, Vietnam committed to cut nearly 100% of tariff lines; commitment to public procurement activities; commitment to the state-owned enterprise sector; pledged to allow employees to establish workers' organizations not necessarily under the Vietnam General Confederation of Labor; commitment to environmental issues, e-commerce ...

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