Economy
Vietnam Medipharm 2024 coming in early December
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| Foreign and economic ministers at the 29th APEC Ministerial Meeting pose for a photo at the TPP Ministerial Meeting, which opened in Đà Nẵng on Thursday.— VNA/VNS Photo |
ĐÀ NẴNG — Talks to reach a deal on the Trans-Pacific Partnership (TPP) without the US are going strong, Minister of Industry and Trade Trần Tuấn Anh said at the TPP Ministerial Meeting, which opened in Đà Nẵng on Thursday.
Negotiators achieved consensus on some controversial issues, enabling the involved parties to reach the final commitment package, Anh said at the two-day event, which took place on the sidelines of the APEC 2017 Economic Leaders’ Week.
The trade pact was officially inked on February 4, 2016 among 12 countries, including the US, Canada, Mexico, Peru, Chile, New Zealand, Australia, Japan, Singapore, Brunei, Malaysia and Việt Nam. TPP is a free trade agreement with many stipulations covering trade and non-trade issues.
However, after taking office in January 2017, US President Donald Trump decided to withdraw his country from the pact. The remaining TPP countries are working towards a new deal that can move forward without the US.
After the latest round of negotiations in Japan early this month, chief negotiators of the 11 TPP members expressed their hopes of making progress at the APEC 2017 Economic Leaders’ Week in Đà Nẵng.
At a press conference on APEC 2017 Economic Leaders’ Week on November 2, Permanent Minister of Foreign Affairs Bùi Thanh Sơn said that cooperation and regional linkage mechanisms within the framework of APEC, including TPP, must be characterised by voluntarism, mutual benefit and mutual respect. — VNS
