Friday, October 19, 2018 11:28:19 AM - Markets open
VN-INDEX 954.25 -9.22/-0.96%
HNX-INDEX 107.17 -0.74/-0.69%
UPCOM-INDEX 52.43 -0.27/-0.52%
Conference highlights CPTPP’s commitments, tips for businesses - 5/23/2018 9:48:44 AM
 (0 ratings. You must sign in to rate.)
The Vietnam Chamber of Commerce and Industry (VCCI) and the Ministry of Industry and Trade co-hosted a conference in Hanoi on May 22, focusing on basic commitments of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and recommendations for businesses.
Participants held that the CPTPP’s strict regulations will be requirements but also create an opportunity for Vietnam to speed up its reform, improve institutions, and fully implement its commitments to the pact.
Deputy Minister of Industry and Trade Tran Quoc Khanh said the CPTPP will give a boost to international trade and investment as well as intra-bloc trade activities.
He said it is the highest-standard agreement that Vietnam has joined to date, which will be enforced in the near future.
The point is what Vietnamese firms should do to prepare themselves to capitalise on its benefits and reduce related risks, the official noted.
Luong Hoang Thai, Director of the Ministry of Industry and Trade’s Multilateral Trade Policy Department, said the CPTPP will drive the Government’s reform progress and build the image of Vietnam as a supporter of free trade in line with international law.
The agreement will also help Vietnam open its market, increase investment, boost international cooperation, create jobs, and ease poverty, Thai added.
VCCI Chairman Vu Tien Loc recommended Vietnamese firms update information about the regulations on product origins and standards and customers’ demand in CPTPP member markets, as well as the agreement’s impacts on different types of commodities.
Loc said he believes the deal will offer opportunities for Vietnam to attract investment, promote international cooperation, boost exports, and complete its institutions.
After the US withdrew from the Trans-Pacific Partnership (TPP), the predecessor of the CPTPP, in 2017, the remaining 11 countries, namely Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam, agreed to maintain the deal and rename it CPTPP.
The CPTPP, which was signed in Chile on March 8, is set to take effect in early 2019 after it is ratified by at least six member countries. Its member economies make up about 13 percent of the global GDP.-VNA
Read original article here
Newer News
31/08 Vietnam, China to open new border gate pair
17/08 Cement exports record strong growth
15/08 Vietnamese steel sector amidst US-China trade war
14/08 Rubber industry faces falling export price
14/08 US’s DoC levies anti-subsidy tax on Vietnamese laminated woven sacks
08/08 US initiates anti-dumping investigation into VN’s cold rolled steel
06/08 Agro-forestry-fishery exports grow 7.8 percent in 7 months
04/08 Vietnam works hard to have “yellow card” warning removed
02/08 Plastic products exports up 20%
31/07 Retail revenue high in first seven months
Older News
22/05 US’ DoC levies import tax on Vietnamese steel
22/05 EVFTA - a push for Vietnam-EU economic relations
16/05 Thousands of scrap containers stored at Cat Lai Port
15/05 Exports of tra fish earns 438 million USD in three months
10/05 CPTPP likely to lift Vietnam’s garment exports to Australia
05/05 Rice exports bring home 1.1 billion USD in Jan-Apr
23/04 Vietnam is big winner of free trade deals
11/04 Vietnam exports rambutan to New Zealand
07/04 Vietnam’s fruit, vegetable exports up 33.4 percent in Q1
06/04 EVFTA to boost textile firms’ exports
Newsletter Signup
Top Stories
VN Index to rise amid volatility, weak liquidity
VN stocks continue rallying
VN manufacturing PMI hits 22-month high in March
CPI goes up 4.96 percent year-on-year in first quarter
Slight rise in February CPI
Market Update
Last updated at 11:31:05 AM
VN-INDEX 954.25 -9.22/-0.96%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.