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Trans-Pacific pact to boost Vietnam exports: Lawyer
Vietnam will be able to increase its exports and attract more investment by joining the Trans-Pacific Partnership agreement currently under negotiation, a senior lawyer at US law firm Miller & Chevallier told Tuoi Tre.
“The TPP agreement is a big opportunity for Vietnam to penetrate deeper into global trade,” Jay L. Eizenstat said.
TPP, a multilateral free trade agreement for the Asia-Pacific region, was not only aimed at lifting normal commercial barriers but also enforcing the labor code, intellectual property rights, environment regulations, and others.
However, the accord would not help reduce anti-dumping cases against Vietnam.
The government should have a better mechanism to control the currency, human resource distribution, labor rights, and state ownership.
That would result in more countries recognizing the nation as a market economy, which in turn could help Vietnam when it came to issues like anti-dumping or anti-subsidy lawsuits.
Vietnam was on the right track now since more and more countries were recognizing its developing market economy.
Tran Huu Huynh, a senior Vietnam Chamber of Commerce and Industry official, said the TPP will bring Vietnam both challenges and opportunities from the US.
The latter is also negotiating to join the treaty and is expected to wield a major influence once it becomes a member.
Australia, Malaysia, and Peru are the others attending the talks.
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