Key recent IP developments and trends in Vietnam

The Federation of Malaysian Manufacturers (FMM) is advocating for the acceleration of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership’s (CPTPP) implementation.

When Japanese Prime Minister Yoshihide Suga met with U.S. President Joe Biden at the White House in April, there was one topic he wished to broach even though it would be in vain, the possibility of the U.S. returning to the Trans-Pacific Partnership.

Japanese government will provide non-refundable aid for a vaccine storage system worth US$1.8 million for Vietnam and a ship for maritime study.

Referring to opportunities from the FTAs, the export growth to markets of the new generation FTAs such as the EU-Vietnam FTA (EVFTA), the UK-Vietnam FTA (UKVFTA), and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a good example.

A virtual fourth session of the Vietnam - Chile free trade council was held on May 6 to review the implementation of the Vietnam-Chile Free Trade Agreement (FTA) in the 2018-2021 period and update trade exchanges between the two countries.

Despite there being no commitments on services and investment in the Vietnam - Chile Free Trade Agreement (FTA), the pact has nonetheless been a boost to trade and economic ties between the two countries.

Vietnamese firms should find ways to expand into the Canadian market as there is a lot of untapped potential for Vietnamese goods in the North American country, said Đỗ Thị Thu Hương, commercial attache at the Vietnamese Embassy in Canada.

In order to take advantage of the opportunities offered by the CPTPP and promote exports to the Americas, Vietnamese businesses must have a long-term plan to develop distribution channels in the Americas; at the same time, enterprises need to be more proactive in grasping the priorities in the CPTPP framework.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) offers many opportunities for Vietnamese businesses to expand their exports to the Americas, two years since it came into force.