The statement was made at a conference in Hanoi on July 2.
The Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP) provides a great opportunity for Vietnamese agro-products to be exported to markets without FTAs with Vietnam such as Canada, Mexico, Peru and Australia under preferential tariffs.
The strict requirements of commodity standards are also the driving force for the Vietnamese agriculture sector to enhance their capacity to join the global value chain. CPTPP also helps Vietnam attract FDI as well as domestic capital into agriculture.
However, the CPTPP also poses many challenges such as strict standards. Competition will become fiercer with large competitors from Australia or New Zealand. There will be a need for a strong partnership among domestic stakeholders, farmers, the state, entrepreneurs, scientists, banks and distributors.
