TPP News

TPP could boost Vietnam’s GDP

New assessments by Professor Petri estimate that the TPP would increase Vietnam’s GDP by 8.1% in 2030 over the baseline without TPP, and increase Vietnam’s exports by 30.1% over the baseline. The TPP represents a “landmark accord” that would yield considerable economic gains for the United States and 11 other nations, boosting exports and increasing wages, according to an analysis by the Peterson Institute for International Economics. But the TPP would not increase job creation overall, and it could force 50,000 U.S. workers each year to find new jobs, a process that might require them to pursue new training.

VGP – Viet Nam pledges common tariffs to all Trans-Pacific Partnership (TPP) Agreement signatories, removing over 65% of tax lines when the document takes effect, according to the Ministry of Finance (MoF).In addition, 98% of tax lines will be eliminated after ten years. Other tax lines will be abolished over 10 years or imposed tariff rate quotas. The MoF announced that other TPP member states committed to opening relatively large up for Vietnamese products with the removal of 78-95% of tax lines. Other commodities will get tax removal within 5-10 years excluding sensitive products after over 10 years or imposed tariff rate quota.

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NOCNDEAL is an Electronic-Commerce Platform. By using the advantages of E-commerce, the system works as a connection that motivates the trade between Vietnamese Companies and Foreign Companies (Members of TPP Agreement).