Topic: Cptpp

Japanese Minister in charge of CPTPP is on a working visit to Vietnam.

The National Assembly expected to ratify the document on the UK's accession to the CPTPP at the ongoing session.

The ratification will help Vietnamese goods to get better access to UK market.

Exports to CPTPP markets are increasing significantly but product branding remains limited.

Brand building would help Vietnamese enterprises expand their market share further in the country and boost export revenue.

Vietnam is expected to become one of the world’s largest wood production centers over the next 10-15 years and is already making a major impression in Canada from the CPTPP.

The space to take full advantage of new-generation FTAs remains significant if proper solutions are introduced.

Figures from the General Department of Vietnam Customs show that export turnover from Vietnam to members of the CPTPP (the Comprehensive and Progressive Agreement for Trans-Pacific Partnership) in the first seven months of 2022 stood at $31.47 billion, an increase of 21.43 per cent year-on-year and accounting for 14.48 per cent of Vietnam’s total export turnover. It is forecast that Canada, Australia, Malaysia, and Brunei will join Japan as markets of potential for Vietnam.