Hanoi (VNA) – Vietnam plays animportant part in the negotiation for the Comprehensive and ProgressiveAgreement for Trans-Pacific Partnership (CP TPP), according to Canadian Ministerof International Trade Francois – Philippe Champagne.

In an interview granted to the Vietnam NewsAgency on the sidelines of the official signing of the CP TPP in Chile, theCanadian minister spoke highly of the leadership of Vietnam’s Prime Ministerand Minister of Industry and Trade during the process.

Canada wishes to consolidate the relationshipwith Vietnam, he noted, adding that with CP TPP, the two nations can increasetheir trade exchange, particularly between small- and medium-sized enterprisesof the two nations.

Canada and Vietnam will collaborate to ensure thatthe agreement will be effective and benefit people in line with commitmentsstated in the deal, the minister said, adding that he hopes the two countrieswill start with cutting tariffs to facilitate trade exchange.

He expressed his delight when Canada, togetherwith Vietnam and other member nations, will establish regulations on trading inAsia-Pacific region in a fair, progressive and open manner, thus facilitating win-win,fair and balanced trade exchange.

Explaining the deal’s concepts of “comprehensive”and “progressive” initiated by Canada, the minister said the CP TPP aims to benefitnot only big companies but also the people, adding that anyone can trade withnew markets.

According to the Canadian minister, the CP TPPwill benefit Vietnamese and Canadian people alike. The world will consider it amodel for progressive and inclusive trade, he said.

The official signing of CP TPP took place inSantiago de Chile on March 8 (local time), with the participation ofrepresentatives from 11 member countries, namely Chile, Australia, Brunei,Canada, Malaysia, Mexico, Japan, New Zealand, Peru, Singapore and Vietnam.

CP TPP was launched a year ago after the USwithdrew from the Trans-Pacific Partnership (TPP) agreement.

The content of CP TPP was basically unchangedfrom the original TPP with 8,000 pages, except for the suspended implementationof 22 provisions mainly related to intellectual property. It sets high criteriain numerous fields, including labour, the environment, intellectual property,digital economy and cyber security.

The pact will create one of the world’s largestfree trade blocs with a combined market of 499 million people and GDP of around10,100 billion USD, accounting for 13.5 percent of the global GDP.

The pact will come into force 60 days after itis fully ratified by at least six of the 11 members. -VNA