Vietnam committed to TPP negotiation success
(VOV) - Vietnam will work closely together with other parties to the Trans-Pacific Partnership (TPP) negotiations to reach a complete agreement later this year.
State President Truong Tan Sang made Vietnam’s commitment at a high-level meeting of leaders of the 12 TPP member countries in Indonesia on October 8.
He welcomed the members’ resolve to conclude negotiations by the end of this year, recommending a flexible and realistic approach to discussions that considers each party’s specific developmental circumstances.
He urged TPP members to provide technical assistance and enhance enforcement capacity during negotiations to ensure the opportunities arising from the TPP are not squandered.
At the meeting, the participating leaders noted a TPP would cover an area responsible for 40% of global GDP and one third of global trade.
They agreed to settle all the remaining issues to complete negotiations later this year so as to reach a comprehensive agreement, taking into account the members’ various development levels.
They welcomed the desires of Japan, Canada and Mexico to join TPP negotiations this year.
The 12 TPP members are Brunei, Canada, Chile, the United States, Malaysia, Mexico, Japan, New Zealand, Australia, Peru, Singapore, and Vietnam.
Together with key regional economic linkages such as ASEAN, ASEAN plus, APEC, and the Regional Comprehensive Economic Partnership (RCEP), a TPP would invigorate dynamism and development, interregional connections, and even lay the groundwork for an eventual Free Trade Agreement of the Asia-Pacific region (FTAAP).