Major Progress Seen at 7th Round of TPP Talks

After the seventh round of negotiations on Trans-Pacific Strategic Economic Partnership Agreement (TPP) ended in Vietnam last week with substantial progress made, Deputy Minister of Industry and Trade Tran Quoc Khanh - chief negotiator of Vietnam, said at a press conference following the five-day meeting in Hanoi on June 24. Distinguished attendants included chief negotiators of Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore, and the United States.

 

Deputy Minister Khanh said the talk round has made major progress. The biggest benefit that Vietnam gains with the accession to the TPP is to spur exports because the TPP is a comprehensive free trade agreement. The second major benefit for Vietnam is to improve its investment environment and attract more foreign investment capital.

The eighth round of talks will be held in the United States in September this year. A framework agreement is expected to be reached in November.