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Pacific Rim nations sign historic trade deal

by VTV404 February 2016 Last updated at 14:08 PM

(Photo: AP)
(Photo: AP)

VTV.vn - The Trans-Pacific Partnership, one of the biggest free trade deals in history, was signed in New Zealand this morning local time (Thursday).

Vietnam and 11 member countries officially signed the agreement, which aims to break down trade and investment barriers between countries that account for about 40 percent of the global economy.

New Zealand as the host of the TPP signing welcomed delegates with a traditional ceremony. In his opening speech, Prime Minister of New Zealand John Key affirmed that the TPP will promote free trade and bring benefits to all 12 member countries. Right after the speech, a historical moment came as each country officially signed the agreement.

Ministers and delegation leaders of the TPP member countries were pleased when the signing came to a close. At the press conference following the ceremony, Vietnam’s Minister of Industry and Trade Vũ Huy Hoàng stressed that the TPP is a fair agreement and beneficial to Vietnam.

"Vietnam will enjoy better conditions to access foreign markets and boost its exports to other TPP member countries, especially in textiles, agricultural and other industrial products. We also hope for more foreign direct investment from TPP member countries in high-tech projects that promote Vietnam’s technology sector, specifically in support and processing industries and services", Mr.Vu Huy Hoang, Minister of Industry and Trade, said.

Minister Vu Huy Hoang also emphasized that Vietnam will continue to improve its legislation system, especially in the economic sector, as well as enhance competitiveness to better implement TPP regulations.

TPP and the Vietnamese economy TPP and the Vietnamese economy

VTV.vn - The Trans-Pacific Partnership was officially signed in Auckland, New Zealand today with the participation of the ministers of the 12 negotiating countries, including Vietnam.

 

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