Together with other 11 Pacific Ocean countries, Vietnam is negotiating the Trans-pacific Partnership (TPP). There is an intense debate over whether Vietnam can really utilize TPP tariff reduction and which economic entity would be the largest beneficiary.
Vietnamese policy makers entered TPP negotiation, expecting that Vietnam can derive the common interests from TPP such as
- Reduction or elimination of tariff and removal of non-tariff barriers with TPP partners, which would definitely help raise the competitiveness of Vietnam export products.
- Expansion of market access to cheaper manufacturing materials and machineries within TPP region.
- Calling more inward foreign investment. TPP membership would help Vietnam attract attentions of foreign investors to come to Vietnam and explore business opportunities. More inward FDI comes in, Vietnam can access more capital to industrialize the economy and learn technological know-how and management skills from developed countries.
- Serving as a momentum for Vietnamese government to conduct reform in…
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