The Ministry of Industry and Trade is making every endeavour to complete all required papers and to submit the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to the National Assembly for ratification in the legislature’s session later this year.
Foreign Ministry’s spokesperson Le Thi Thu Hang. (Photo: VNA)
Hanoi (VNA) – The Ministry of Industryand Trade is making every endeavour to complete all required papers and tosubmit the Comprehensive and Progressive Agreement for Trans-PacificPartnership (CPTPP) to the National Assembly for ratification in thelegislature’s session later this year.
The Foreign Ministry’s spokesperson Le Thi ThuHang told this news to reporters at the ministry’s regular press conference inHanoi on July 19.
Responding to reporters’ questions about thepossibility of expanding the CPTPP, Hang said the trade deal will enter intoforce 60 days after six of the signatories have finished ratifying it. Vietnamand other member states are conducting the necessary ratification procedures inline with each country’s related regulations.
The agreement will be soon implemented toboost win-win economic cooperation between member economies, as well ascontribute to the regional economic growth and connectivity, she noted.
The CPTPP is an open agreement that allowsother countries to join after the deal takes effect if they accept itsprinciples and are approved by the member states, she added.
Theoriginal Trans-Pacific Partnership (TPP) was signed by 12 countries in February2016, but US President Donald Trump pulled his country from the deal upon hisinauguration in January 2017.
Theremaining 11 countries – namely Australia, Brunei, Canada, Chile, Japan,Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam – signed the pact andrenamed it the CPTPP during their meet-up in March 2018 in Chile.
Thepact is expected to boost economic growth, create more jobs, reduce poverty,and improve the quality of life for people in the member countries.
The deal willcreate one of the world’s largest free trade blocs with a combined market of499 million people and GDP of around 10.1 trillion USD, accounting for 13.5percent of the global GDP.
Mexico, Japan and Singapore ratified the pact.-VNA
Japan fulfilled domestic procedures on July 6 for the ratification of the Comprehensive and Progressive Agreement for Transpacific (CPTPP), becoming the second member to do so after Mexico.
Malaysian companies will be at a huge disadvantage and lose out to Vietnam in terms of trade investment inflow if the country chooses not to participate in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), said a local official.
Chief negotiators of the 11 countries involved in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on July 18 met in Kanagawa prefecture of Japan to accelerate the completion of domestic procedures so that the deal will come into effect soon.
Singapore has become the third country to ratify the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), according to a statement by its Ministry of Industry and Trade on July 19.
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
Under the leadership of President Ho Chi Minh and the CPV, President Cuong said, the press has been a steadfast force on the ideological and cultural front, rallying the masses to pursue national aspirations.
NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
He also pledged that the NA will promote its ongoing supervision, making sure that every promise must lead to results, and every commitment must bring about real changes.
Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
The show, together with a grand parade to be held silmutaneously at Ba Dinh Square in Hanoi, will celebrate the 80th anniversary of the August Revolution, the National Day, and the General Staff of the Vietnam People’s Army (VPA).
In particular, in April 2023, the two sides successfully carried out a joint operation that dismantled a major organised, transnational drug trafficking ring involving both Vietnamese and Cambodian suspects.
The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
The launch of Thanh Nien (Young People) newspaper in 1925, even before the founding of the Communist Party of Vietnam, is considered a testament to President Ho Chi Minh’s strategic foresight and strong belief in the guiding power of the revolutionary media.
New Zealand is currently one of Vietnam’s most important partners in the region, marked by a high level of political trust, strong and reliable defence and security cooperation, and increasingly open economic, trade, and investment ties.
Party General Secretary To Lam stressed that the Central Public Security Party Committee must be fully aware of the extremely important role of the People's Public Security force in the country's new revolutionary phase, so as to guide each branch and level of the force as the nation undergoes transformation.
Addressing concerns over university education spending, Son explained that as public universities gain greater autonomy, the Ministry of Finance has scaled back recurrent state funding. “Over the past decade, as autonomy has increased, the State's support has steadily declined”, he noted
Lao Minister of Foreign Affairs Thongsavanh Phomvihane affirmed that the presence of Vietnamese press offices in Laos vividly demonstrates the great friendship, special solidarity, and comprehensive cooperation between the two nations, as the press is not only a means of communication but also an important bridge for spreading consciousness about the history, values, and strategic depth of the Laos – Vietnam relationship to the people of both countries and the international community.
The country is willing to participate in collective efforts to promote cooperation and mobilise resources to advance the current priority issues of developing countries, such as trade, investment, infrastructure connectivity, making the most of scientific and technological advances for development, and people-to-people exchanges, Hang said.
During the negotiations, the US highly evaluated Vietnam’s goodwill and efforts, affirmed its appreciation for the bilateral relationship, acknowledged Vietnam’s proposals and concerns, and considered these an important basis for continuing discussions and moving towards a final agreement.
The Chairman stressed the need for stricter fiscal discipline, faster digital transformation, and more efficient management of State budget revenues and expenditures.
Foreign Ministry’s spokesperson Le Thi Thu Hang. (Photo: VNA) 
