TPP Helps Vietnam Restructure Economy

The US has a very important role and impact on Vietnam’s economic progress. Therefore, any agreement with commercial quality and economic relations with the US is very important. When it negotiated WTO entry, Vietnam easily concluded with most countries but it had to undergo 13 rounds of hard negotiations with the US.

 

This time, the TPP Agreement has a higher quality, more stringent requirements, and more important pressures on Vietnam’s economic restructuring. In restructuring an economy, it is important to define the new way the economy will go. TPP comes when Vietnam is forced to restructure the economy after its economic construction failures. TPP helps Vietnam introduce economic restructuring standards.

 

TPP is a difficult challenge to Vietnam. For the time being, Vietnam does not conduct any study before it joins TPP because it is certainly determined to join. The matter is Vietnam studies TPP for socioeconomic restructuring to join it and grasp opportunities that it brings.

 

I think that this is the highest achievement that the 20 years of normalised relations has brought. During those 20 years, Vietnam has gained experience in economic restructuring to integrate into the world effectively. This is the basic, important and best achievement of the 20-year Vietnam - US relations. If TPP is successful, it will be the peak of those 20 years.

 

Vietnamese people are smart enough to embrace opportunities and flexibly utilise those opportunities. As for knowledge equipment, Vietnam should have introduced it in schools. For example, TPP should have been discussed for long and taught at the Foreign Trade University, National Economics University, and Economic College - Vietnam National University of Hanoi. In general, the educational system of Vietnam has actively disseminated knowledge of international institutions that Vietnam has participated and planned to participate. That is the downside. However, this is not a big problem for businesspeople because they will learn to overcome this shortage. They will study on their own and tap international agreements in their own way.

 

I think the Government needs to be prepared for this. Governmental agencies must understand international agreements to prepare technical barriers to restrict their negative aspects. Vietnam has no technical barriers other than traditional remedies it introduced at the time of founding the nation. So far, I don’t see any curricula on WTO issues at economic universities The WTO is a chapter in scope and a subject in the United Kingdom but Vietnam does not have it. BTA is an extremely important agreement for Vietnam in trade with the US. Nevertheless, BTA has not been taught at universities after 20 years the two countries normalised relations.

 

Vietnam is not a factor of terrifying quality among TPP-joining countries. The leading factor of this process is the relationship between the Americans and the Japanese. I think that Vietnam should get prepared when the world is negotiating TPP. What can Vietnam export to TPP?