Vietnam’s core interests still ensured with CTPPP membership

Vietnam’s core interests will still be ensured after the country joins the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Deputy Prime Minister and Foreign Minister Pham Binh Minh told the National Assembly on November 5. 
Vietnam’s core interests will still be ensured after the country joins the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).(Source: VNA)

Vietnam’s core interests will still be ensured after the country joins the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).(Source: VNA)

The Deputy PM made the affirmation when explaining the pact and related documents to the legislature during the debate of lawmakers. 

The Government’s assessment report said joining the pact as one of the found members demonstrates Vietnam’s policy on international integration and affirms the country’s important geo-political position in the region and the international arena. 

Economically, CPTPP can boost Vietnam’s GDP and export by 1.32 percent and 4.04 percent, respectively by 2035. In terms of investment, CPTPP commitments relating to services and investment are expected to have positive effects on the investment environment. The pact will also help push the process to complete economic institutions. Socially, the pact will contribute to job generation, enhancement of incomes and poverty reduction. 

Most NA deputies approved the necessity to ratify the CPTPP, stressing that it is a new generation free trade agreement with high quality and the highest level of commitment so far.

At the same time, many deputies also cautioned about possible challenges and difficulties that will come with the CPTPP. Bilateral and multilateral trade may face difficulties. Several sectors such as advertisement and logistics are expected to face fierce competition. However, the competition also forces domestic enterprises to reduce operation costs. 

The deputies said a number of domestic enterprises could fall into difficulties due to increasing competition after the CPTPP takes force, resulting in loss of jobs. 

They noted that the country will have to adjust and revise legal regulations on trade, customs, intellectual property and labour to comply with CPTPP commitments.   

 “At this point, we don’t need to spend much time on discussing whether we should or should not join the CPTPP. The most important thing now is to make clear what we should do to make use of advantages and opportunities brought by the pact while minimising its adverse impacts on domestic production and business,” said deputy Hoang Van Cuong of Hanoi. 

Speaking on the sidelines of the debate, many deputies wanted the Government to do more research on the impacts of the deal on Vietnam. 

They also urged the Government to take the initiative in reviewing and adjusting related laws to ensure the effective implementation of the CPTPP and prevent risks to the most, while maintaining national sovereignty and avoiding becoming dependence on others.

VNA

Other News

National Assembly Chairman urges renovation in leadership, working style

National Assembly Chairman urges renovation in leadership, working style

The NA's Committee for Cultural and Social Affairs has moved fast to reshuffle its organisation after the 14th National Party Congress and the election of deputies to the 16th NA, updating its work agenda to match new directives set out in the resolutions of the 14th National Party Congress and the first Congress of the NA Party Organisation for the 2025–2030 term.

Vietnam treasures ties with Croatia: PM

Vietnam treasures ties with Croatia: PM

Vietnam and Croatia should strive to double bilateral trade turnover from the current level of 161 million USD; study the establishment of a Joint Committee on Economic Cooperation to create a long-term, stable, and effective framework for collaboration, said Prime Minister Le Minh Hung.

President Ho Chi Minh's enduring legacy highlighted at Venezuela commemoration

President Ho Chi Minh's enduring legacy highlighted at Venezuela commemoration

Vice President of the United Socialist Party of Venezuela (PSUV) Jesús Faria expressed deep admiration for President Ho Chi Minh and Vietnam’s indomitable struggle for national independence. He described President Ho Chi Minh as an immortal symbol of 20th-century national liberation movements, whose legacy continues to inspire leftist parties, progressive movements, and peoples across Latin America, including Venezuela.

Vietnam proposes key cooperation orientations at BRICS Foreign Ministers' Meeting

Vietnam proposes key cooperation orientations at BRICS Foreign Ministers' Meeting

Deputy Foreign Minister Nguyen Minh Hang shared Vietnam’s approach to building an independent and self-reliant economy linked to deep international integration, while proposing several key areas for enhanced cooperation between BRICS and partner countries at the Expanded BRICS Foreign Ministers' Meeting that opened on May 14 in India.

Vietnam asks parties to respect its sovereignty over Truong Sa

Vietnam asks parties to respect its sovereignty over Truong Sa

PSNews - The spokesperson stated that the dispatch of personnel by relevant parties to features belonging to Truong Sa without Vietnam’s permission constitutes a violation of Vietnam’s sovereignty under international law. She stressed that such actions run counter to the Declaration on the Conduct of Parties in the East Sea (DOC) as well as ongoing efforts by countries to negotiate a Code of Conduct in the East Sea (COC).

Hanoi to host ASEAN Future Forum 2026 in mid-June

Hanoi to host ASEAN Future Forum 2026 in mid-June

PSNews - Vietnam’s proposals placed the highest priority on ensuring a peaceful and stable environment conducive for continued sustainable development and improving the well-being and happiness of the ASEAN people. They were praised by member states and incorporated into the core contents of the ASEAN Leaders’ Statement on the response to the Middle East crisis.

Vietnam promotes cooperation with United Nations on crime prevention

Vietnam promotes cooperation with United Nations on crime prevention

Vietnam highly values the support of the United Nations Office on Drugs and Crime (UNODC) in strengthening national capacity in crime prevention and criminal justice, drug control, and addressing emerging challenges, particularly cybercrime, said Ambassador Vu Le Thai Hoang.

Party, State leader calls for consolidation of central steering committees on legal, judicial reform

Party, State leader calls for consolidation of central steering committees on legal, judicial reform

Consolidating the central steering committees for institutional and legal reform and for judicial reform is necessary in order to streamline organisational structures without reducing responsibilities, while ensuring clear accountability, measurable outputs and concrete results. Following the restructuring, the body will be renamed the central steering committee for institutional improvement and law enforcement, with the Party General Secretary and State President serving as its head.

Vietnam strives for substantive outcome at NPT review conference

Vietnam strives for substantive outcome at NPT review conference

At the meeting this week, Ambassador Viet briefed the UNGA President on developments during the first two weeks of the conference. He stressed that the current international geopolitical landscape poses numerous complex challenges, while reaffirming Vietnam’s determination, together with other member states, to promote substantive and balanced outcomes at the conference.

Top leader of Vietnam receives Vientiane official in Hanoi

Top leader of Vietnam receives Vientiane official in Hanoi

The host leader stressed that cooperation between localities, particularly between the capitals of Hanoi and Vientiane, plays an especially important role as a pioneering force in effectively implementing the foreign polices of the two Parties and States, while also serving as a bridge between politics and development, as well as between strategy and concrete action.