In his speech, Dien affirmed that the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the European Union (EU) are seen as having significant potential to coordinate the development of strategic supply chains, particularly in semiconductors, energy, and agriculture.

“We propose that both sides establish an early warning mechanism to respond promptly to supply chain disruptions, while strengthening cooperation on Environmental, Social, and Governance (ESG) standards, traceability, and preventing origin fraud,” said the minister.

According to him, enhancing market access and regulatory harmonisation is key to expanding bilateral trade. Both sides can intensify technical dialogue on technical barriers and sanitary and phytosanitary (SPS) measures, while considering mutual recognition in priority areas such as agricultural products and processed foods.

In addition, cooperation on digital transformation and the green economy is viewed as a strategic pillar. This includes establishing a framework for collaboration on digital trade, data, artificial intelligence, and cybersecurity, as well as close coordination in developing renewable energy, offshore wind power, hydrogen, and the carbon credit market.

Ministers from the CPTPP member economies and the EU Commissioner for Trade and Economic Security discussed five key issues, namely trade diversification, digital trade, trade and investment facilitation, supply chain resilience, and the global trade environment, including World Trade Organisation reform.

They agreed to bolster joint efforts to confront global trade challenges, enhance collaboration in priority areas to improve trade flows and competitiveness and expand practical cooperation in fields such as trade diversification, digital trade, customs and border procedures, non-tariff measures, and supply-chain resilience. They reaffirmed their joint commitment to open, rules-based trade, while delivering tangible results.

“As the world's largest trading bloc (with a global trade share of close to 16%), the EU remains committed to an open, rules-based and stable trade environment. Our reinforced cooperation with CPTPP partners therefore speaks volumes about the importance of our shared approach to trade. But this goes beyond a symbolic signal, as we are now set to focus our efforts on clear, mutually beneficial results across the five priority areas,” said EU Commissioner for Trade and Economic Security Maroš Sefcovic.

Earlier, Vietnamese Minister of Industry and Trade Nguyen Hong Dien took part in the CPTPP–ASEAN Trade and Investment Dialogue. He noted that CPTPP’s high standards in transparency, digital trade, and investment facilitation—combined with ASEAN’s broad scope and strong economic connectivity—create major opportunities to streamline procedures, reduce transaction costs, harmonise regulations, and support small and medium sized enterprises (SMEs) in integrating more deeply into regional markets.

Six years of CPTPP enforcement: Opportunities for Vietnamese exports

VOV.VN - The past six years of implementation has seen the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) recognised as one of the agreements delivering significant benefits for Vietnamese exports to many lucrative markets.