TPP is signed in New Zealand

by PV/VTV04 February 2016 Last updated at 06:00 AM

(Photo: Vietnamnet)
(Photo: Vietnamnet)

VTV.vn - 2 hours 30 minutes ago, at 11:30 this morning New Zealand time or at 5:30 Hanoi time, the official signing ceremony for the Trans Pacific Partnership trade deal (TPP) was held in Auckland city, New Zealand.

This  was at Trade Minister level only, but marked a milestone in the global trade. Vietnam is among 12 members of this TPP agreement and is considered one of biggest beneficial of this trade pact. Now we will connect live with our reporter (Nguyet Ha) Ha Phung who is on site of the signing ceremony in Auckland, New Zealand.

Good morning Ms. Phung, from your view there, how was the reactions of all sigsning parties there? How is this deal meant for the regional trade and global trade?

- Wow. I have to say an atmosphere of joy and sastifaction after 5 years of hard negotiations. This marks the end of the negotiation but marks the beginning of the biggest free trade area in the world… This is the biggest free trade agreement was signed since the Uruguay round of the World Trade Organisation. And it is said to bring about $ 300 billion a year to the global trade.

Vietnam is among 12 members of this TPP agreement and is considered one of biggest beneficial of this trade pact. So what are the opportunities and challenges Vietnam will get after TPP get in to effect?

- Vietnam is considered to get more opportunities when we export our prime products like textile, shoes, garment. Each year, we will get % GDP growth increase after TPP takes in to effects. Why? Because we find other big markets that our products are so competitive. In my recently trip to  Dallas city in Texas, I heard a worried voice from  bussiness community there that a lot of shoe makers in the US is now worried about their shoe industry when the US open market more to Vietnam under TPP.

However, the farmers in North Carolina where I visited last October said to me they feel eager to export farm products to Vietnamese market, because their pork meat and beef are  more competitive than Vietnamese products. That is to say Vn will get both good chances and challenges. An the most challenges  for Vn will be the institutional reform, intell. property,  state owned enterprises.

After the TPP trade deal signing , so what is next?

- After signing the document, each country has two years to go through domestic processes required before it comes into effect. Some government will even have to make some law changes to meet the standards set under TPP. Now, several countries have already indicated an interest in joining including Indonesia, the Philippines, Thailand  and South Korea  So TPP is not the closed trade deal, but the open trade pact. And that is why it is called the Model FTA for the 21st century.

Government issues resolution on TPP signing Government issues resolution on TPP signing

VTV.vn - The Vietnamese Government agreed to sign the “Trans-Pacific Partnership” agreement with Resolution 09/NQ-CP issued on February 2.


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