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Vietnam Today

TPP edges closer

Released at: 08:04, 26/01/2015

TPP edges closer

TPP negotiations starting in New York should bring the agreement within reach of signing, Vietnam believes.

by Nguyen Quynh

Vietnam expects that the Trans-Pacific Partnership (TPP) negotiations taking place from January 23 to February 3 in New York will have a positive outcome and the negotiation process will conclude shortly. 

Addressing a press conference on January 22, Ms. Pham Thu Hang, Deputy Spokeswomen of the Ministry of Foreign Affairs, stressed that the TPP will play an important role in maintaining and boosting Asia-Pacific’s economic growth. For Vietnam, the agreement is a step towards its extensive and comprehensive international integration, contributing to boosting the country’s economic growth.

As a result, Vietnam as well as other TPP members are trying to conclude the negotiation as soon as possible. Negotiations are indeed being expedited the end is in sight, with member countries attempting to reach a final agreement that balances the benefits for all. “Vietnam expects the negotiations in New York will reach important decisions that mean the agreement will be finalized shortly,” Ms. Hang said. 

At a press conference in Ho Chi Minh City on January 18, H.E. Ted Osius, US Ambassador to Vietnam, expressed his confidence in the success of the TPP negotiations. “I believe the TPP will be signed this year and submitted to the US Congress soon after,” he said.

The TPP is an ambitious, 21st century trade agreement that the US is negotiating with eleven other countries throughout the Asia-Pacific region - Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. When signed it will establish a free trade area with a population of 800 million people that accounts for 30 per cent of global trade and nearly 44 per cent of the global economy.

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