Conference focuses on TPP challenges
HCM CITY (VNS) - A meeting to review
opportunities and challenges of the Trans-Pacific Partnership (TPP) to the
national economy was held in HCM City yesterday.
Representatives of the southern regions' business community highlighted
the need for information support and legal guidelines to utilise investment
and business opportunities in the context of the country's further
integration into the world economy and Viet Nam's participation in TPP.
TPP's member countries are potential markets for Viet Nam, accounting for
40 per cent of GDP and 30 per cent of the total export–import revenue
worldwide.
National Institute for Finance head Vu Nhu Thang said that, in the first
10 months of this year, Viet Nam's imports from these countries reached
US$27,921 million, equivalent to 23 per cent of its total import value. It
exported $48,368 million to these countries, amounting to 39 per cent of
export value.
Further, in terms of investment, eleven member countries account for
nearly 32 per cent of the foreign direct investment (FDI) in Viet Nam.
Officials note that it is a necessary preparation for Viet Nam to
evaluate opportunities and challenges when joining TPP, as well as analyse
the impacts of the agreement to the country's market. Therefore, enterprises
and the nation'seconomy could utilise such advantages effectively.
Ngo Chung Khanh, deputy head of the Ministry's Multilateral Trade Policy
Department, said opportunities for Viet Nam include export – import market
mechanism improvement, regional and global production chains, institutional
environmental improvements, production capacity creation and job creation.
However, the TPP agreement also creates competitive pressure and social
impacts upon the country. Therefore,Viet Nam needs to make efforts to adjust
its legal systemand management capacity, he added.
The TPP has been discussed at more than 20 official negotiation sessions
and is expected to be signed next year.
The conference was organised by the National Institute for Finance and
The US Agency for International Development (USAID). - VNS
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Thứ Sáu, 19 tháng 12, 2014
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