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Foreign-invested companies in the southern region are speeding up investments and preparing for opportunities as Vietnam is poised to join the Comprehensive and Progressive Agreement for Tran-Pacific Partnership (CPTPP).

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Beef + Lamb NZ (BLNZ) says the recent signing of the CTPP deal will put NZ at least on par with Australia in the Japanese beef market, and especially in the rapidly expanding grass-fed meat market in Asia.

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Tran Hoang Ngan has spent days studying the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). He is not a negotiator of the deal, but a National Assembly (NA) member from Ho Chi Minh City recently provided with documents related to the agreement, before it was officially discussed at the NA last week.

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Vietnam’s lawmaking body, the National Assembly, on Monday unanimously ratified a landmark 11-country deal that will slash tariffs across much of the Asia-Pacific.

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Deputy Prime Minister and Minister of Foreign Affairs Phạm Bình Minh delivered a report to the National Assembly yesterday to address a number of issues related to the approval of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) including the agreement’s impact, labour organisations and potential amendments to current laws and regulations necessitated by the signing of the partnership.

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Malaysia is still studying the implications and potential impacts of the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP) before deciding to ratify the free trade agreement, said Tun Dr Mahathir Mohamad.

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Vietnam’s core interests will still be ensured after the country joins the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Deputy Prime Minister and Foreign Minister Pham Binh Minh told the National Assembly on November 5.

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Canada has filed its notice of ratification of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) with New Zealand which acts as the depository country overseeing the deal’s implementation.

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Washington’s withdrawal from the Trans-Pacific Partnership in January 2017 left the pact unfinished and without leadership as it was still at its fledgling stage. However, Tokyo intended to pursue the trade pact despite the US withdrawal in order to complement the “third arrow” of its Abenomics strategy, which is centered on promoting structural economic reforms in Japan.

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The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (TPP 11) passed Parliament on Wednesday, making Australia the fourth signatory nation to ratify the Pacific rim trade deal.

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