CPTPP – new opportunity for Vietnamese enterprises
(VOVWORLD) - The enforcement of the Comprehensive and Progressive Agreement on Trans- Pacific Partnership creates major opportunities for Vietnamese enterprises to expand its partnership, said Tran Toan Thang of the National Center for Socio-Economic Information and Forecast of the Ministry of Planning and Investment.
Mr. Thang said that the CPTPP can make Vietnam’s GDP increase 1.3% and wider opening of services will likely make it grow an additional 2%. These figures are calculated without regards to the improvements of the domestic investment environment. According to the centre’s report, Vietnam’s export will grow 4% and imports 3.8%. Under the CPTPP, garment, textiles and footwear are Vietnam’s most competitive products thanks to their competitive prices and wide markets including the US and EU. The reports says light industries and workers will also benefit much from the trade pact.