NA expected to approve document on UK's accession to CPTPP

The National Assembly (NA) Standing Committee agreed to submit the document on the UK's accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to the NA for approval, at its upcoming 7th session which is scheduled to start on May 20, according to NA Permanent Vice Chairman Tran Thanh Man.

The Government had proposed the NA ratify the UK’s accession protocol at its 7th session so that Vietnam will be one of the first six CPTPP countries to ratify it.

Addressing the NA Standing Committee meeting on May 15, Mr. Man urged the Government to complete dossiers to submit to the NA.

The UK's accession to the CPTPP has to be approved by all its members, including Vietnam.

The UK officially applied to join the CPTPP on February 1, 2021. During negotiations with the UK on its CPTPP accession,

Vietnam has achieved its target of requesting the UK to commit to open its market at a high level to ensure compliance with the agreement's standards.

After meetings at all levels, on March 31, 2023, CPTPP member countries and the UK announced a joint statement on ending the negotiations. The UK and the CPTPP members signed the Accession protocol of the UK to the CPTPP at the 7th Commission Meeting hosted by New Zealand on July 16, 2023, making this country the 12th signing member of the deal.

The early ratification and implementation of commitments in the protocol will help realize opportunities for Vietnamese goods to access the UK market, thereby helping to consolidate and strengthen trade - investment relations between the two countries, and enhance Vietnam's image and position in actively promoting international economic cooperation.

Source:Vneconomy