Vietnam to work with TPP members on future orientations

Vietnam will work with the member states of the Trans-Pacific Partnership (TPP) agreement to reach a consensus on future orientations for the deal, Foreign Ministry’s spokesperson Le Thi Thu Hang said

Foreign Ministry’s spokesperson Le Thi Thu Hang (Source: VNA)

Hanoi (VNA) – Vietnam willwork with the member states of the Trans-Pacific Partnership (TPP) agreement toreach a consensus on future orientations for the deal, Foreign Ministry’sspokesperson Le Thi Thu Hang told a regular press conference in Hanoi on May 4.

“Vietnam considers its entry to Trans-Pacific Partnership (TPP) and free tradeagreements as one of the steps to execute the policy of active and proactiveintegration into the extensive world economy,” she said.

Thecountry sees fine-tuning the legal system and market economy institutions aslaying a new momentum for development and contributing to regional economicintegration and connectivity, the diplomat noted.

“Vietnam continues renovation and step up preparations to ensure effectivedelivery of commitments to the free trade agreements that Vietnam did join andwill join,” Hang added.

OnMay 2, negotiators from 11 member countries of the Trans-Pacific Partnership(TPP) Agreement gathered for a meeting in Toronto, Canada to explore thepossibility of putting the trade pact into force without the US.

TPPwas signed in February in 2016 by Australia, Brunei, Canada, Chile, Japan,Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam, coveringaround 40 percent of the global economy.

Thewithdrawal of the US prevents the deal from taking effect because the countryrepresents over 60 percent of the trade bloc’s GDP.-VNA

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