On the morning of October 2, 2024, in Hanoi, the Department of European - American Markets, Ministry of Industry and Trade coordinated to organize the Workshop "CPTPP: Strengthening economic - trade cooperation with American partners". Deputy Minister of Industry and Trade Nguyen Hoang Long attended and delivered a speech at the Workshop.
The workshop was held in a combination of in-person and online formats, aiming to evaluate the results after 5 years of implementing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), thereby exchanging and seeking practical solutions to help businesses effectively utilize the Agreement, enhancing economic and trade connections with partners in the Americas.
The workshop was attended by more than 200 delegates, including leaders of the People's Committee, leaders of the Department of Industry and Trade, Trade and Investment Promotion Agencies of provinces and cities in the Northern region, business associations and the production and export business community of Vietnam. On the side of the American partners, the workshop was attended by representatives of diplomatic agencies of Canada, Mexico, Chile, Peru, the United States, the United Kingdom, Colombia, Argentina, Nicaragua, Argentina, Cuba, El Salvador, Panama... and large import-export associations and enterprises of American countries such as Coppel Group (Mexico) and Sodi-mac Group (Chile).
 |
| Deputy Minister of Industry and Trade Nguyen Hoang Long delivered the opening speech at the Workshop. |
Speaking at the opening ceremony of the workshop, Deputy Minister of Industry and Trade Nguyen Hoang Long said that economic and trade relations between Vietnam and the Americas have been growing steadily in recent years.
After 5 years since coming into effect in January 2019, CPTPP has played an important role in promoting Vietnam's trade with markets in the Americas, especially member markets including Canada, Mexico, Chile, and Peru (in which Canada, Mexico and Peru are the markets that have FTA relations with Vietnam for the first time).
According to statistics from the General Department of Customs, total import and export turnover to CPTPP markets in the Americas increased by 56.3%, from 8.7 billion USD in 2018 to 13.6 billion USD in 2023, despite this being a period with many challenges such as the global economic recession and the Covid-19 pandemic. Of which, Vietnam's exports to these markets nearly doubled, from 6.3 billion USD in 2018 to 11.7 billion USD in 2023. Trade surplus in these markets also increased nearly 3 times, from 3.9 billion USD to 11.01 billion USD, contributing positively to Vietnam's macroeconomic stability in recent times. This result has contributed significantly to Vietnam's trade with the Americas region in general, with total import-export turnover in 2023 reaching 137.7 billion USD, of which Vietnam exported 114.5 billion USD.
In addition to the impressive figures mentioned above, joining the CPTPP has promoted Vietnam to reform its institutions and improve its legal system towards greater transparency. This not only helps businesses operate more professionally but also contributes to enhancing Vietnam’s international reputation to attract more foreign investors. The relationship between Vietnam and the Americas has been and continues to be strengthened through strategic commitments.
Also speaking at the workshop, Ambassador Shawn Steil - Ambassador of Canada to Vietnam said that the Agreement has brought benefits to both people and businesses of the two countries, opening up great investment cooperation opportunities for both sides. CPTPP is a lever to increase trade turnover between Vietnam and Canada. The workshop is an opportunity to look back on 5 years and propose new directions for cooperation.
 |
| In addition to the impressive figures mentioned above, joining the CPTPP has promoted Vietnam to reform its institutions and perfect its legal system towards greater transparency. |
The Americas are a large market and are closely linked together through interwoven free trade blocs such as the North American Free Trade Agreement (USMCA), the Pacific Alliance (PA), the Southern Common Market (MERCOSUR)... Taking advantage of the advantages that the CPTPP Agreement brings, along with the favorable gateway locations of member countries in the region such as Canada, Mexico, Chile and Peru, businesses can consider exporting and investing in production in the above countries to expand and diversify export markets to this vibrant and potential market.
At the workshop, experts and speakers shared a lot of useful information, discussed and found solutions to help the Vietnamese and American business communities build effective business plans.
Through the workshop, businesses can grasp market information, seek new and effective logistics solutions, and increase the ability to take advantage of tariff incentives in CPTPP; strengthen connections for businesses to participate deeply in the global supply chain, especially of CPTPP member countries.
In addition, the Workshop also shared and presented very useful information directly from import-export enterprises from Mexico (Coppel Group) and Chile (Sodimac Group) about the advantages of cooperation with CPTPP member partners; business cooperation plans with Vietnam in the context of the Indo-Pacific Strategy; plans to expand business cooperation with the Asia-Pacific region in general and Vietnam in particular; needs in the fields and specific order quantities of these corporations...
Industry and Trade Newspaper will continue to update information about the Conference…
Comment (0)