HCM CITY (VNS) — A professor at the HCM City University of Economics and a group of young researchers have written what is the first book on the challenges and opportunities Viet Nam has by signing the Trans-Pacific Partnership.
Assoc Prof Dr Pham Duy Nghia, the author, said membership of the TPP is important for Viet Nam's economy, but few companies are aware of what this holds for the country.
He pointed to a similar lack of preparation before joining the WTO on 2007, which saw the country fail to benefit as much as it should have.
The TPP offers a second chance, he said.
For the book, the researchers pored over information from the 17 rounds of negotiations and the hundreds of free trade agreements between Pacific rim countries.
They speculate on the advantages and disadvantages Viet Nam will face and its responsibilities as a member.
Of the several key areas still under negotiation, they focus on agricultural policies, intellectual property, state-owned enterprises, and public investment.
Thoi Ngoc Doan Thuy, a researcher at the Ba Ria – Vung Tau Province Department of Industry and Trade and one of the authors, said Viet Nam's rice exports would benefit since other leading exporters like Thailand and India would not be in the TPP.
Viet Nam's animal husbandry would face challenges since four other members — the US, Australia, Canada, and New Zealand – are very strong in this sector.
The four account for 95 percent of the proposed bloc's cattle and poultry exports.
Viet Nam still uses outdated technologies and poor farming techniques, and would be unable to compete with them, she added.
The book has been written with support from the university's Fulbright Economics Teaching Program. — VNS