CPTPP Agreement strongly promotes Vietnam's trade with American partners

Trade highlights with American partners

According to the roadmap committed in CPTPP, thousands of tax lines will be deeply cut, moving towards 0%, helping Vietnamese goods increase their price competitiveness compared to competitors without FTAs.

To date, management agencies have had many solutions to support and institutionalize these commitments. Specifically, the Ministry of Finance has issued a Decree amending the CPTPP preferential export tax schedule for the period 2022 - 2027, accordingly, the average tax rate will gradually decrease, creating the most favorable conditions for export enterprises.

Recently, on November 28, 2025, the Ministry of Industry and Trade issued Circular No. 55/2025/TT-BCT amending and supplementing a number of articles of Circular No. 07/2019/TT-BCT dated April 19, 2019 of the Minister of Industry and Trade regulating the export of textiles and garments to Mexico under the CPTPP Agreement to further facilitate trade activities. This is a clear demonstration of the efforts of the Government and ministries in turning the agreement's incentives into practical competitive advantages.

In fact, the CPTPP Agreement has been creating momentum to promote trade between Vietnam and CPTPP member countries. According to the Ministry of Industry and Trade, by the end of October 2025, trade turnover between Vietnam and CPTPP members reached 102.8 billion USD, an increase of 20.6% over the same period last year. Of which, Vietnam's exports reached 58.3 billion USD, an impressive growth of 26%.

Among CPTPP member countries, Vietnam's import-export turnover to the American market is a bright spot. Specifically, with the Mexican market, statistics from Mexico show that the total import-export turnover with Vietnam in the first 8 months of the year reached nearly 13.2 billion USD, an increase of 33.33% over the same period, of which Vietnam exported 12.9 billion USD while Mexico only exported 289 million USD to Vietnam. Data from Vietnam Customs show that the two-way trade turnover between Vietnam and Mexico in the first 9 months of 2025 reached more than nearly 6 billion USD, an increase of 24.2% over the same period in 2024.

With Canada, in the first 9 months of 2025, Vietnam - Canada trade reached 6.35 billion USD, up 19.5%. Of which, Vietnam's exports to Canada reached 5.56 billion USD, up 19.2% over the same period; while imports from Canada to Vietnam reached 794.2 million USD, up 22.2% over the same period.

The leader of the Import-Export Department, Ministry of Industry and Trade, assessed that this growth is not only about quantity but also a strategic shift, reducing dependence on traditional markets, consolidating Vietnam's position in the global supply chain.

However, Mr. Ngo Chung Khanh, Deputy Director of the Multilateral Trade Policy Department (Ministry of Industry and Trade) commented that although the tax incentives from CPTPP are very attractive, the rate of tax incentives utilization by Vietnamese enterprises is still not high. Especially for distant markets like America, this rate is still modest.

From Canada, Trade Counselor Tran Thu Quynh said that CPTPP has opened up trade, but the rate of Vietnamese enterprises taking advantage of CPTPP to export to Canada is still very low, only 18%.

“Up to 81% of Vietnam’s exports to Canada still use most-favored-nation (MFN) treatment, while only 18% take advantage of CPTPP treatment. This ratio shows that a huge potential from CPTPP is being left untapped,” Counselor Tran Thu Quynh worried.

Improve competitiveness and product quality

To maximize the benefits of CPTPP, experts say that businesses need to proactively raise awareness of CPTPP. When they understand correctly, adapt and respond, they will be able to take full advantage of the benefits that CPTPP brings.

Experts recommend that export enterprises need to optimize supply chains and focus on increasing the localization rate of raw materials, or using raw materials from CPTPP countries, thereby meeting origin standards and taking advantage of tariff incentives brought by this FTA.

At the same time, businesses proactively improve their capacity, especially in product quality or improve production and processing processes, optimize marketing strategies, and self-promote products and services.

Regarding this issue, economic expert Dr. Nguyen Minh Phong warned that if Vietnam only focuses on tax incentives without fundamentally improving the quality of goods, enhancing production capacity and optimizing the supply chain, it risks being "stuck in the advantage".

This means that the initial tax incentives will no longer be advantageous when other competitors are also participating in similar agreements or when businesses fail to increase the value added of their products. The core factor to maintain high and sustainable growth is investment in technology, green transformation and supply chain transparency.

To overcome current barriers, economic experts believe that it is necessary to support businesses with training courses and seminars that focus on practical guidance on specific rules of origin for each industry, how to collect documents, and the process of applying for a C/O under the CPTPP. At the same time, the Ministry of Industry and Trade needs to build a more comprehensive "support ecosystem", including initial financial support for consulting costs and supply chain inspections so that businesses can prove origin more easily and effectively.

From the association's perspective, the Vietnam Textile and Apparel Association also recommends that businesses, in addition to taking advantage of tax incentives, need to focus on three core strategies: diversifying raw material supply sources to meet strict rules of origin; investing in deep processing and high technology to increase product added value, avoiding just stopping at exporting raw goods; and increasing compliance with international standards on labor, environment, and social responsibility, as these are non-tariff barriers that are increasingly valued by developed markets such as Canada and Mexico.

Source: https://moit.gov.vn/tin-tuc/hiep-dinh-cptpp-thuc-day-manh-me-thuong-mai-viet-nam-voi-cac-doi-tac-chau-my.html

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