Vietnam reforms to continue despite TPP

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Vietnam says it will continue its economic reforms despite the decision by the US to pull out of the Trans-Pacific Partnership (TPP).

>>With or without TPP, Vietnam still improves business environment

Without TPP, Vietnam still develops

Vietnamese Foreign Ministry spokesman Le Hai Binh said Vietnam will take the necessary steps to “ensure the effective implementation of its commitments” under the existing and future free trade agreements.

Vietnamese Foreign Ministry spokesman Le Hai Binh

“TPP, if implemented, would benefit all member countries. The deal would not only create a new driving force for economic and trade relations but also help bring about stability and prosperity in Asia-Pacific,” VnExpress quoted Bihn as saying.

The spokesman stressed that the signing of free trade agreements is a step towards greater economic integration in the region.

Vietnam, with country’s strong manufacturing industry, especially in the textile sector, sees the agreement as an opportunity to attract foreign investment and increase its exports to member countries.

Meanwhile, Singapore says it will also pursue other trade agreements.

Vietnam reforms to continue despite TPP

A spokesperson for the ministry of trade and industry told the media on Tuesday there are other trade agreements that are similar to the TPP such as the Regional Comprehensive Economic Partnership, to which Australia is a party.

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