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National Assembly prepares to discuss TPP ratification

by VTV405 March 2016 Last updated at 09:33 AM

VTV.vn - A conference on the Trans-Pacific Partnership Agreement and Vietnam: From ratification to implementation was held on Thursday in Vinh Phuc Province.

It was organised by United States Agency for International Development USAID. The event was supposed to provide the National Assembly with information on the possible ratification of the agreement some time this month.

Experts at the conference agreed that of the 12 member countries, Vietnam could benefit the most from TPP. The agreement is could provide a 35.5 billion dollar increase in GDP, while exports could grow by a potential $68 billion.

Vietnam could be the beneficiary of many opportunities as exports would see major cuts in tariffs. Experts at the event also said that in order for Vietnam to effectively make use of the opportunities that the TPP presented, the country would needs to revise its laws to meet the requirements of the TPP and fulfil its commitments.

The conference offered a complete review of the opportunities and challenges posed by the TPP, as well as suggestions for future action in a post-TPP ratification environment. This information will be of great importance, especially as Vietnam prepares to discuss the ratification of the agreement.

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