Trade between Vietnam and CPTPP members increased by 20.6%
After more than 6 years of implementation, the Comprehensive and Progressive Agreement for Trans- Pacific Partnership (CPTPP) has created great momentum, helping many Vietnamese industries increase exports and penetrate deeper into the markets of member countries.
According to the Ministry of Industry and Trade , two-way trade turnover between Vietnam and the CPTPP market in 2024 will reach 102.1 billion USD, up 6.8% compared to 2023. In the first 10 months of 2025, trade turnover between Vietnam and CPTPP members (including the UK as the new Agreement takes effect with this country on December 15, 2024) will reach 102.8 billion USD, up 20.6% over the same period; of which, Vietnam's exports will reach 58.3 billion USD, up 26% and imports will reach 44.5 billion USD, up 14.47% over the same period.
One of the markets with positive trade growth with Vietnam in CPTPP is Australia. From the local market, Ms. Tran Thi Thanh My - Deputy Consul General of Vietnam in Sydney, Head of Vietnam Trade Office in Australia said that Australia is one of the important trade partners of Vietnam and recently has been one of the 10 largest partners, especially a very large export market of Vietnam.
Since the CPTPP Agreement came into effect, Vietnamese and Australian businesses have taken full advantage of the incentives, causing trade turnover between the two countries to grow strongly.
Vietnamese and Australian businesses have made good use of the incentives in the CPTPP, causing trade turnover between the two countries to grow strongly.
Head of Trade Office Tran Thi Thanh My said that if the two-way trade turnover between the two countries in 2012 was only 5 billion USD, by 2019 when the CPTPP Agreement came into effect, the turnover reached 8 billion USD, by 2022 this figure reached a record 15.7 billion USD. In the first 10 months of 2025, the two-way import-export turnover between Vietnam and Australia reached 11.5 billion USD.
In the period 2018 - 2022, the average annual bilateral trade growth rate is up to 20%. In the two years 2023 - 2024, due to certain impacts and difficulties, especially related to the Covid-19 pandemic or the general difficult situation of global trade, the two-way trade turnover between the two countries is still averaging around 14 billion USD.
In particular, with proactive and positive trade promotion, market research and taking advantage of incentives from CPTPP, Vietnamese goods are increasingly present in the Australian market, especially agricultural and aquatic products.
Most impressively, cashew nuts account for 90% of Australia's total cashew imports from all markets; pepper also accounts for nearly 30% of the market share. In particular, Vietnam's strong seafood products such as shrimp, tra fish, processed seafood... with the advantage of the 0% import tax rate of CPTPP have risen to occupy the leading market share in Australia.
Some other Vietnamese commodity groups such as textiles, footwear, etc. have also reached the market and increasingly affirmed their brands and quality. In addition, many products have recorded strong growth in turnover in recent years and have great potential to boost exports to Australia in the coming time such as confectionery and products from cereals, rice, clinker and cement, etc.
Promote the use of rules of origin
Similarly, with the Canadian market, CPTPP has promoted bilateral trade cooperation through commitments on tariff reduction, market opening and procedural reform. Many key export industries of both sides have more opportunities to access partner markets, contributing to promoting import and export growth in a substantial and sustainable direction.
Vietnam Trade Counselor in Canada, Ms. Tran Thu Quynh, said Canada is one of the leading potential markets with an open economy , diverse demand for goods, large purchasing power and a high standard system, acting as an important gateway for Vietnamese enterprises to access deeper into the North American supply chain.
Currently, Canada is the 11th largest importer in the world with an import value of about 310 billion USD of items such as: Electronic equipment, iron and steel, food, consumer goods...
Promoting the use of rules of origin in CPTPP
In recent years, trade relations between Vietnam and Canada have been continuously expanded in both scale and depth. Vietnam is currently Canada's 7th largest trading partner and the largest among ASEAN countries, accounting for nearly 45% of Canada's total import turnover from the region.
In 2024, bilateral trade turnover will reach about 7.2 billion USD, of which Vietnam will export to Canada more than 6.3 billion USD and import from Canada nearly 0.8 billion USD.
Vietnam’s main export items include textiles, footwear, wood and wood products, seafood, coffee, electronic components, machinery and equipment, etc., which are all highly appreciated by Canadian consumers for their quality and competitive prices. In return, Canada is a reliable source of high-tech agricultural products, processed foods, fertilizers and industrial raw materials.
In addition to the positive results, Mr. Hoang Minh Chien, Deputy Director of the Trade Promotion Agency (Ministry of Industry and Trade), said that trade activities still have some problems. Instead of direct export, a significant portion of about 4 billion USD of the total turnover of Vietnamese goods entering the Canadian market goes through intermediary distribution channels located in the United States.
Given the above reality, Ms. Quynh emphasized the need to use the CPTPP Agreement more effectively, because the rate of using tariff incentives for Vietnamese exports to Canada is still very low, only reaching 18%.
With the structure of goods and input materials of the two countries being complementary rather than competitive, Ms. Quynh believes that the production chains of the two countries have many opportunities for cooperation.
"Exploiting FTAs in general and CPTPP in particular is not only about exploiting tax incentives to promote short-term exports but also about greater opportunities for connecting production, investment, technology, and brands between the two countries to create higher value chains," Ms. Quynh shared.
Source: https://moit.gov.vn/tin-tuc/thuong-ma-i-giu-a-viet-t-nam-va-tha-nh-vien-cptpp-tang-truong-ng-ti-ch-cuc.html
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