CPTPP to help bolster Vietnam-Mexico trade: Ambassador
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will help create a more favourable environment for Vietnam and Mexico to bolster their economic, trade and investment ties, Vietnam’s Ambassador to Mexico Nguyen Hoai Duong said.
Mexican City (VNA) – TheComprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)will help create a more favourable environment for Vietnam and Mexico tobolster their economic, trade and investment ties, Vietnam’s Ambassador toMexico Nguyen Hoai Duong said.
The ambassador made the remark atan Asia-Pacific forum on Mexico’s business opportunities in the Asia-Pacificregion held in Mexico City on June 27.
He said the second meeting ofthe Vietnam-Mexico Joint Committee on Trade and Investment, slated for July, willaddress technical barriers in bilateral trade ties.
The ambassador highlighted thatVietnam has become a top destination for foreign investors thanks to its stablemacro-economic policy, a young workforce with good skills, a high GDP growth atnearly 7 percent in the past years and a favourable environment for investors.
At the forum, Undersecretaryfor Foreign Trade in Mexico's Secretariatof Economy Luz Maria de la Mora underlined the importance o the CPTPP inMexico’s strategy on promoting free trade and diversifying export markets.
Mora urged Mexican firms tomake use of opportunities brought by the CPTPP to access new markets such asAustralia, Brunei, Malaysia, New Zealand, Singapore and Vietnam.
Mexico’s statistics show thecountry’s exports to CPTPP member economies have expanded at twice the rate ofexports to the remaining part of the world during the past decade, reaching3.26 billion USD in 2017.
The CPTPP groups Australia,Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singaporeand Vietnam, which together create a market of 500 million people and accountfor 13.5 percent of the world’s GDP. -VNA
The Ministry of Industry and Trade (MoIT) has worked out comprehensive solutions to expand and seek more export markets for Vietnam’s goods, towards fostering the country’s export, especially to member nations of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The CPTPP will create a good chance for Vietnamese shrimp exporters to capitalise on the Canadian market, even though the Southeast Asian nation is already the top shrimp supplier there.
Vietnam’s customs sector will help businesses carry out procedures while implementing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), said Deputy General Director of the General Department of Vietnam Customs Nguyen Duong Thai.
Preferential export taxes offered by CPTPP are expected to be promulgated this month. However, the tax reduction is only one of the incentives for Vietnamese goods when entering markets, not a ‘lifesaver’ for businesses, said the Ministry of Industry and Trade.
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Illustrative image (Photo: VNA) 
