Seminar discusses opportunities, challenges from CPTPP

A seminar titled “Opportunities and Challenges arising from CPTPP agreement for Vietnam’s seafood – fruits, vegetables – animal husbandry, meat processing industries” has been held in the Mekong Delta city of Can Tho.

Nguyen Thi Thu Trang, Director of the Vietnam Chamber of Commerce and Industry (VCCI)’s WTO and Integration Centre, said Vietnamese firms have managed to grasp the opportunities brought by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

The trade deal has been ratified by six members – Canada, Mexico, Japan, Singapore, New Zealand and Australia – and took effect in December last year.

Vietnam became the seventh member, acceding to it in January this year.

Trang said Vietnam’s exports, especially to Canada, have risen significantly since the CPTPP came into effect.

She said relevant agencies such as the Ministry of Planning and Investment would have plans to deal with the impacts of the agreement.

Nguyen Quoc Toan, Director of the Ministry of Agriculture and Rural Development’s Department of Farm Produce Processing and Development, said the agreement has already impacted certain segments like vegetables and fruits, with their exports being worth 3.5 billion USD this year.

Nguyen Thi Hong Thu, Director of the Chanh Thu Fruit Import & Export Co. Ltd., said local firms have to standardise their production and processing facilities to take advantage of the lower tariffs.

Source: VNA