CP TPP opens ups opportunities for Vietnam-Canada trade: expert
Updated : Monday, March 12, 2018 3:15 PM (GMT+0700)

Thesigning of the Comprehensive and Progressive Trans-Pacific Partnershipagreement (CP TPP) in Chile on March 8 will open up many opportunities fortrade between Canada and Vietnam, said President and CEO of Asia-PacificFoundation of Canada (APF) Stewart Beck. 

President and CEO of Asia-Pacific Foundation of Canada Stewart Beck - Photo: VNA

According to Beck, CP TPP isreally important to Canada, as it gives the country unlimited access to theJapanese market and other potential markets such as Vietnam and Singapore, withwhich Canada is yet to have a bilateral free trade agreement.

He said the deal will bringCanada certain advantages in the Vietnamese market, and through Vietnam, helpsit to enter the ASEAN.  

According to Beck, Canadian peopleand businesses have come to realise that Vietnam is a potential market thanksto publicity campaigns about the CP TPP. He expressed his belief that after twoor three years of enforcement, the CP TPP will help further bilateralcooperation in fields of importance to both countries. 

Having visited Vietnamseveral times to push the implementation of the Women’s Initiative for Startupsand Entrepreneurship (WISE) sponsored by the Canadian Consulate General inVietnam and APF, the expert has his opinion on fields with great potential forbilateral cooperation after the CP TPP officially takes effect. 

He said Vietnam will be ableto increase the export of seafood and other goods to Canada, and technology andservice are also promising fields.

The Canadian side hopes thatwith the official signing of CP TPP, and considering the large Vietnamesecommunity and increasing numbers of Vietnamese students in Canada, moreopportunities for bilateral affiliation will be opened up based on the culturaland education bridges, Beck said.

The Comprehensive andProgressive Agreement for Trans-Pacific Partnership (CP TPP) was officiallyinked at a ceremony chaired by Chilean President Micelle Bachelet in Chile onMarch 8.

Trade ministers of 11countries participating in the trade pact, namely Australia, Brunei, Canada,Malaysia, Mexico, Japan, New Zealand, Peru, Singapore and Vietnam, attended theevent. 

The ambitious deal cameafter the US pulled out the Trans-Pacific Partnership (TPP) agreement lastyear. It sets high criteria in numerous fields, including labour, theenvironment, intellectual property, digital economy and cyber security.

The pact will create one ofthe world’s largest free trade blocs with a combined market of 499 millionpeople and GDP of around 10,100 billion USD, accounting for 13.5 percent of theglobal GDP.


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