TPP News

Vietnam’s businesses ready to welcome cooperative opportunities of TPP

VGP – Trade Counselors affirmed that the Trans-Pacific Partnership Agreement will bring huge opportunities for Viet Nam to attract more investment and boost up exports at a meeting in Ho Chi Minh City on February 22.

Trade Counselor to Japan Nguyen Trung Dung revealed that Japan has been one of the largest investors in Viet Nam.

As the two nations are members of the TPP, the connection between localities and sectors will help them take advantages of the TPP, he added.

From the Viet Nam Trade Office in the US, Commercial Counselor Dao Tran Nhan said that when all free trade agreements, including the TPP are inked, new opportunities for enhancing exports in Viet Nam’s industrial and commercial sectors will be created.

When the TPP comes into effect, almost of all tariffs on Viet Nam’s garments and footwear imported in the U.S. will be reduced to 0%.

The market share of Viet Nam’s footwear in the U.S. will be raised from 12% to 22% by 2019.

Currently, a wave of foreign investment are being poured in Viet Nam in the textile, dyeing, garment and footwear sectors to take advantages of the TPP so domestic businesses need to be well-prepared for welcoming cooperative opportunities with foreign partners.

Source VGP News

About Us

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).