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VN committed to realising TPP

Update: January, 23/2015 - 08:44
Deputy Prime Minister Vu Van Ninh meets with US Under Secretary of Commerce for International Trade Stefan M. Selig yesterday in Ha Noi. — VNA/VNS Photo Phuong Hoa

HA NOI (VNS) — Deputy Prime Minister Vu Van Ninh reiterated Viet Nam's commitment to negotiating and realising the terms of the Trans-Pacific Partnership (TPP) for the benefit of all TPP members while meeting US Under Secretary of Commerce for International Trade Stefan M. Selig yesterday in Ha Noi.

Ninh expressed hope that the US would take a flexible approach towards considering Viet Nam's core interests in apparel, footwear, farm produce and aquatic products as well as support for the country's execution of TPP commitments. He also recalled the US's support to Viet Nam with the preferential trade agreement, which brought about major changes to national policies and improved the country's eligibility to join the World Trade Organisation.

The Deputy PM felt confident that the visit would be the first of many high-level visits to celebrate the 20th anniversary of diplomatic ties between the two nations.

Selig expressed satisfaction with Viet Nam's commitments to TPP negotiations and implementation. He mentioned a portion of President Barack Obama's State of the Union speech where the leader cited the TPP as a crucial component of economic growth for the US and TPP member states.

During his visit, Selig and other US officials will discuss issues of shared concern with relevant Vietnamese units, including opening the goods and service market to additional trading opportunities. Once the TPP goes into force, Viet Nam's service exports are predicted to increase by 28 per cent.

The US official was greeted by head of the Party Central Committee's Economic Commission Vuong Dinh Hue, who suggested the US quickly recognise Viet Nam's market economy. — VNS

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