Tag: Cptpp

FTA exploitation should not be limited to export promotion but instead focus on developing an industrial strategy that leverages the strengths and complementarities of FTA partners.

Vietnam's exports to the CPTPP market are projected at $55.8 billion, an 11.2% year-on-year increase.

In his recent interview with the Vietnam Government Portal (VGP), UK Ambassador to Vietnam Iain Frew affirmed that the agreement will help to liberalize trade and investment between UK and Vietnam as well as between the UK and the rest of the CPTPP members.

Vietnam’s exports to CPTPP markets nearly doubled during this time, growing from $6.3 billion to $11.7 billion.

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

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

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.

Local businesses are taking advantage of preferential tariffs in markets with which Vietnam has signed an FTA.

Recommendations come from experts at online conference to enable Vietnam to adapt to challenges posed by agreement.

Vietnam posted a trade surplus of $59 million in July with members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), an increase of 60.52 per cent compared to June. This shows that the CPTPP holds significant potential as an export market.

Peru has recently approved the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), under which the country commits to eliminating 81 per cent of tariff lines once the agreement takes effect, equivalent to 62 per cent of import turnover from Vietnam, and eliminating 99.4 per cent of tariff lines within 17 years. After the effective date, goods exported to Peru with a tariff of 0 per cent will include outdoor furniture, agricultural products such as cashew nuts, tea, pepper, vegetables, and certain types of coffee, among others. Rates on textiles, garments and footwear will be cut to 0 per cent in the 16th year under a roadmap. Key export items include phones and electronic components, computers and electronic products, footwear, clinker and cement, textiles, and fisheries.