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| Experts and speakers shared a lot of useful information, discussed and found solutions to help the Vietnamese and American business communities build effective business plans. |
(PLVN) - According to statistics from the General Department of Customs, total import and export turnover to CPTPP markets in the Americas increased by 56.3%, from 8.7 billion USD in 2018 to 13.6 billion USD in 2023.
On the morning of October 2, in Hanoi, the Ministry of Industry and Trade organized the workshop “CPTPP: Strengthening economic and trade cooperation with American partners”. The workshop was held in a combination of in-person and online formats, aiming to evaluate the results after 5 years of implementing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), thereby exchanging and finding practical solutions to help businesses effectively utilize the Agreement, strengthening economic and trade connections with American partners.
Speaking at the opening ceremony of the workshop, Deputy Minister of Industry and Trade Nguyen Hoang Long said that economic and trade relations between Vietnam and the Americas have been growing steadily in recent years.
 Deputy Minister of Industry and Trade Nguyen Hoang Long delivered the opening speech at the Workshop. |
After 5 years since coming into effect in January 2019, CPTPP has played an important role in promoting Vietnam's trade with markets in the Americas, especially member markets including Canada, Mexico, Chile, and Peru (in which Canada, Mexico and Peru are the markets that have FTA relations with Vietnam for the first time).
According to statistics from the General Department of Customs, total import and export turnover to CPTPP markets in the Americas increased by 56.3%, from 8.7 billion USD in 2018 to 13.6 billion USD in 2023, although this is a period with many challenges such as the global economic recession and the COVID-19 pandemic.
Of which, Vietnam's exports to these markets nearly doubled, from 6.3 billion USD in 2018 to 11.7 billion USD in 2023. The trade surplus in these markets also increased nearly 3 times, from 3.9 billion USD to 11.01 billion USD, contributing positively to Vietnam's macroeconomic stability in recent times. This result has significantly contributed to Vietnam's trade with the Americas region in general, with a total import-export turnover in 2023 reaching 137.7 billion USD, of which Vietnam exported 114.5 billion USD.
Participation in the CPTPP has encouraged Vietnam to reform its institutions and improve its legal system towards greater transparency. This not only helps businesses operate more professionally but also contributes to enhancing Vietnam’s international reputation and attracting more foreign investors. The relationship between Vietnam and the Americas has been strengthened through strategic commitments.
Ambassador Shawn Steil - Ambassador of Canada to Vietnam said that the Agreement has brought benefits to both people and businesses of the two countries, opening up great investment cooperation opportunities for both sides. CPTPP is a lever to increase trade turnover between Vietnam and Canada. The workshop is an opportunity to look back on 5 years and propose new directions for cooperation.
The Americas are a large market and are closely linked together through interwoven free trade blocs such as the North American Free Trade Agreement (USMCA), the Pacific Alliance (PA), and the Southern Common Market (MERCOSUR). Taking advantage of the advantages that the CPTPP Agreement brings, along with the favorable gateway locations of member countries in the region such as Canada, Mexico, Chile and Peru, businesses can consider exporting and investing in production in the above countries to expand and diversify export markets to this vibrant and potential market.
At the workshop, experts and speakers also shared a lot of useful information, discussed and found solutions to help the Vietnamese and American business communities build effective business plans.
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Deputy Director of Multilateral Trade Policy Department Ngo Chung Khanh spoke at the Workshop. |
Through the workshop, businesses can grasp market information, seek new logistics solutions and increase the ability to take advantage of tariff incentives in CPTPP; strengthen connections for businesses to participate deeply in the global supply chain, especially of CPTPP member countries.
The workshop also featured sharing from import-export enterprises from Mexico (Coppel Group) and Chile (Sodimac Group) about the advantages of cooperation with CPTPP member partners; business cooperation plans with Vietnam in the context of the Indo-Pacific Strategy; plans to expand business cooperation with the Asia-Pacific region in general and Vietnam in particular.
Source: https://baophapluat.vn/tang-cuong-hop-tac-kinh-te-thuong-mai-voi-cac-nuoc-thanh-vien-cptpp-post527384.html
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