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Thu, 03/07/2024 - 11:20
Submitted by maithuy on Thu, 11/04/2010 - 23:35
A seminar to discuss opportunities and challenges for Vietnam under the Trans-Pacific Strategic Economic Partnership Agreement (TPP) was held in Hanoi on November 4 by the Vietnam Chamber of Commerce and Industry (VCCI) and the Miller&Chevallier Company.

Chairman of VCCI’s Advisory Commission on International Trade Policy, Tran Huu Huynh said the TPP would have a strong impact on the Vietnamese economy so it is a big question whether or not Vietnam should join?

According to economists, one challenge Vietnam would face after joining the TPP is that it would need to reform its labour laws to meet TPP standards. The TPP will not help Vietnam to fight anti-dumping and anti-subsidy measures applied by the US, but membership should help Vietnam boost economic development, export and trade, modernize service and accelerate the equitisation of State-owned enterprises. Furthermore, Vietnam would enjoy as a TPP member such benefits as exemption or reduction of tariffs in all TPP countries, fewer import limitations, and resort to TPP trade barriers and hygiene and epidemiological measures to settle disputes.

Participants at the seminar discussed the US’s attitude towards non-market economies and trade barriers, other benefits Vietnam will get from joining TPP; and opportunities for Vietnam’s key economic sectors under the agreement.

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