Vietnam Seeks for Support from U.S. Biz in TPP Negotiation

Vietnam’s Ambassador to the U.S. Nguyen Quoc Cuong had a talk with representatives of 50 U.S. businesses and associations in Washington on April 11 to call for supports during the Trans-Pacific Strategic Economic Partnership (TPP) Agreement negotiations process. He called on American firms to support Vietnam in gaining the U.S.’s grant of the Generalized System of Preferences (GSP) and recognition for its market economy as this will help further expand cooperation between the two nations as well as promote the TPP negotiation. The ambassador also urged the American business association to lobby the U.S. Congress and the administration to recognize the benefits of Vietnam being in the TPP negotiations, particularly in the apparel and footwear sectors. He stressed that the TPP agreement is extremely important for its member countries, including the U.S. and Vietnam. Calman Cohen, a representative for the U.S. business association confirmed that his association will support Vietnam during the TPP negotiations process. Vietnam, the U.S., Australia, Brunei, Chile, New Zealand, Peru, Singapore, and Malaysia concluded the 11th negotiation round of the TPP negotiation in Melbourne, Australia on Mar 10 with substantial progresses.  The participations have agreed in all fields of the negotiation, including trade, commercial service, investments as well as new issues such as small and medium sized enterprises (SME) and cohesive policy environment. The next round of TPP talks is scheduled to be held in the U.S. in May.  The TPP was signed in 2005 by four founders of Brunei, Chile, New Zealand and Singapore and took effect from 2006. TPP members now have a combined population of about 472 million and GDP of 1/4 of the world’s sum. (Lao Dong – Labor Apr 13 p6, www.gafin.vn Apr 12, www.vov.vn Apr 12)