TPP to bring new opportunities to Vietnam: Seminar Tuna processing - Illustrative image (Source: VNA) The advantages Vietnam will enjoy once the Trans-Pacific Strategic Economic Partnership Agreement (TPP) become effective were discussed in detail at a seminar held in Hanoi on January 8.  The event was jointly organised by the Vietnam Peace and Development Fund and the Vietnam Economics Times. Economic experts and researchers said that the TPP is a great opportunity for Vietnam and the country’s participation in the pact fits the Party and State’s strategy for promoting international integration and restructuring the economy. The pact, with the participation of many countries, aims to set up a general free trade framework for countries in the Asia Pacific. The agreement’s negotiated content is wide-reaching, covering issues related to goods and service exchange, technical barriers, intellectual property rights, environmental policies, working regulations and anti-corruption measures. When the agreement comes into force, its members will get a preferential export tax rate and their export activities will meet with fewer obstacles. Vietnam can take advantage of the agreement’s regulation on tax duties to increase the export of clothes, footwear and other strong commodities to large markets, especially the US. Participants also focused on analysing the impact of the TPP and challenges that will face Vietnamese businesses, thus taking measures and mapping out specific action plans to fully tap the positive aspects and restrict the negative ones. The latest TPP session came after the World Trade Organisation reached an agreement on December 7 on some of the issues under the long-stalled Doha Round of trade liberalisation talks in Indonesia. TPP member countries include Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and the US, in addition to Vietnam.-VNA