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Seminar discusses ways to piggyback on trade deal into new markets

Update: November, 29/2019 - 06:54

 

The Việt Nam Chamber of Commerce and Industry organised a conference in Cần Thơ on November 27 to discuss the trade opportunities and challenges for Việt Nam from the CPTPP. — VNA/VNS Photo Thanh Liêm 

MEKONG DELTA — A conference titled “Opportunities and Challenges arising from CPTPP agreement for Việt Nam’s seafood – fruits, vegetables – animal husbandry, meat processing industries” was held in the Mekong City of Cần Thơ on Wednesday (27 November).

Nguyễn Thị Thu Trang, head of the Việt Nam Chamber of Commerce and Industry (VCCI)’s WTO and Integration Centre, said Vietnamese firms have managed to grasp the opportunities brought by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) agreement.

The trade deal has been ratified by six members – Canada, Mexico, Japan, Singapore, New Zealand and Australia – and took effect in December last year.

Việt Nam became the seventh member, acceding to it in January this year.

Trang said Việt Nam’s exports, especially to Canada, have risen significantly since the CPTPP came into effect.

She said relevant agencies such as the Ministry of Planning and Investment would have plans to deal with the impacts of the agreement.

“There have been good signs, especially in new markets.”

Nguyễn Quốc Toàn, head of the Ministry of Agriculture and Rural Development’s Department of Farm Produce Processing and Development, said the agreement has already impacted certain segments like vegetables and fruits, with their exports being worth US$3.5 billion this year.

Nguyễn Thị Hồng Thu, head of the Chanh Thu Fruit Import & Export Co. Ltd., said local firms have to standardise their production and processing facilities to take advantage of the lower tariffs.

Phùng Thi Lan Phương, head of the centre’s FTA division, said the CPTPP is viewed as a good option for Việt Nam and the 10 other member countries.

At another seminar in Cần Thơ to help enterprises in the Mekong Delta seize opportunities from the CPTPP, Phương had said the trade deal could help increase Việt Nam’s GDP by 1.1 percentage points a year.

“Though this number is less than a sixth of the benefits expected from the TPP, the CPTPP could help boost the country’s institutional and economic reform.”

She was referring to the Trans-Pacific Partnership that collapsed after the US pulled out of it. — VNS

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