(vasep.com.vn) In some years after TPP is concluded, Vietnam’s exports of farm products, particularly seafood will benefit the most and Vietnam’s exports of goods may surge 37 percent.
The Trans-Pacific Partnership (TPP) agreement is one aspect of the Comprehensive Partnership between the U.S. and Vietnam. The agreement is scheduled to be concluded by the end of this year. TPP offers great benefits to its members, most significantly to Vietnam, particularly the Mekong Delta, according to David Shear U.S. Ambassador to Vietnam.
Vietnam’s exports may up 37 percent
Vietnam’s exports of goods to the U.S. and TPP’s members will enjoy substantial increase as TPP reduces tariffs in Vietnams’ several key export items.
In some years after TPP is concluded, Vietnam’s exports of farm products, particularly seafood will benefit the most and Vietnam’s exports of goods may surge 37 percent.
Besides, TPP will improve international market confidence in Vietnam and facilitate foreign investments into the country.
TPP will benefit Mekong Delta the most
In short term, the Mekong Delta will benefit the most from TPP. In 2012, Vietnam’s exports of seafood and agricultural products to the U.S. valued at US$4 billion including US$1 billion from seafood sales. When TPP takes into effect, trade disputes including antidumping duty cases would be expected to reduce.
Vietnam’s adaptability to changing conditions and skilled and young human resources will help the country take full advantage of TPP, David Shear said.