TPP still of value to Vietnam
It is too soon to evaluate the impact on Vietnam if the TPP is not ratified but the country has other valuable options available, a conference in Hanoi on December 14 heard. Trade with other members may be possible, conference hears, and there are other trade options available if TPP does not go ahead. “It is too early to talk about the impact on Vietnam if the TPP collapses but it can still find true value from the agreement,” Professor Pham Tat Thang from the Vietnam Institute for Trade told the “Vietnam’s Trade Development in the 2016-2025 period” conference. The conference was held by VIT, under the Ministry of Industry and Trade, and the European Trade Policy and Investment Support Project in Hanoi. The TPP, according to Professor Thang, is not just an international trade agreement that focuses on exchanging, buying and selling goods. “It is also considered a platform for the implementation of comprehensive social development goals,” he said. US President-elect Donald Trump announced on November 21 that the US will withdraw from the TPP on the first day of his presidency and instead pursue free trade agreements on a bilateral basis.
