Conference on implementation of CPTPP opened in Can Tho

The event also attracted the participation of leaders from 19 provinces and cities in the South and representatives from hundreds of enterprises.

The conference is expected to disseminate information on Vietnam's commitments during the international economic integration process and preparatory work to effectively carry out the CPTPP.

“It can be said that the CPTPP opens a great opportunity for key export sectors of Vietnam, including agricultural products such as rice, fruits and aquatic products of the Mekong Delta region," Minister Tran Tuan Anh said.

He added that "Vietnamese enterprises exporting goods to CPTPP member countries will enjoy high tariff reductions, for example more than 93% of the tax lines from Australia, equivalent to 95.8% of the export turnover of Vietnam to this market."

The minister emphasised that the Ministry of Industry and Trade will continue to work with the other relevant ministries to facilitate enterprises in implementing the commitments under the trade pact.

However, the CPTPP will also create challenges for Vietnamese enterprises, particularly high competitive pressure, the protectionism of domestic production from importing countries, and others.

He noted that the action programme of the Government will concretise the provisions regarding specific sectors and markets, while completing the information system to supply for enterprises.

The CPTPP officially took effect on January 14, 2019. Vietnam approved the trade deal on November 12, 2018, opening opportunities to promote the export of various types of products.