CPTPP pro­posal shows VN’s will­ing­ness to change

Viet Nam News - - NATIONAL -

HAØ NOIÄ — Party Gen­eral Sec­re­tary and Pres­i­dent Nguyeãn Phuù Troïng yes­ter­day pre­sented a pro­posal to the Na­tional Assembly ask­ing for the par­lia­ment’s rat­i­fi­ca­tion of the Com­pre­hen­sive and Pro­gres­sive Agree­ment for Trans-Pa­cific Part­ner­ship (CPTPP) that in­volves 11 economies in the dy­nam­icAsi­aPa­cific re­gion.

The Pres­i­dent’s pro­posal stressed that the early rat­i­fi­ca­tion of the CPTPP would show Vieät Nam’s strong com­mit­ments to re­form and com­pre­hen­sive and in­ten­sive in­ter­na­tional in­te­gra­tion.

“Vieät Nam will also be able to af­firm its im­por­tant role and ge­o­graph­i­cal-po­lit­i­cal po­si­tion in South­east Asia and Asia-Pa­cific at large, while ad­vanc­ing its po­si­tion within the As­so­ci­a­tion of South­east Asian Na­tions (ASEAN), in the re­gion and the in­ter­na­tional arena,” he said.

The state leader noted that in the con­text of rapid, com­plex and un­fore­see­able changes in the global and re­gional po­lit­i­cal and se­cu­rity sit­u­a­tion, CPTPP mem­ber­ship would en­able Vieät Nam to im­prove its in­ter­nal strength to cope with new chal­lenges, and con­sol­i­date its po­si­tion to re­alise its for­eign pol­icy of in­de­pen­dence, mul­ti­lat­er­al­i­sa­tion and di­ver­si­fi­ca­tion of re­la­tions.

The pro­posal also pointed out the ben­e­fits along with chal­lenges to be brought by the free trade deal to so­cio-eco­nomic de­vel­op­ment, State bud­get and the fi­nal­i­sa­tion of le­gal and in­sti­tu­tional frame­works.

It said the open­ing-up of eco­nomic ac­tiv­i­ties, along with reg­u­la­tions in labour, trans­parency and anti-cor­rup­tion, would re­quire Vieät Nam to take the ini­tia­tive and make greater ef­forts to com­plete le­gal reg­u­la­tions and es­tab­lish man­age­ment mech­a­nisms that both match in­ter­na­tional treaties and en­sure po­lit­i­cal-so­cial sta­bil­ity.

The Gov­ern­ment pro­poses rat­i­fy­ing the CPTPP and re­lated doc­u­ments at the sixth ses­sion of the 14th NA with­out any reser­va­tion.

To en­sure the im­ple­men­ta­tion of the agree­ment, the Gov­ern­ment has in­structed min­istries and agen­cies to re­view and com­plete a list of laws, or­di­nances and de­crees that need amend­ing, sup­ple­ment­ing and is­su­ing to suit the com­mit­ments made in the CPTPP.

The list names eight laws and four Gov­ern­ment de­crees that need to be amended and sup­ple­mented, and pro­poses seven new doc­u­ments (six de­crees and one Prime Min­is­te­rial de­ci­sion). The list also rec­om­mends par­tic­i­pa­tion in three in­ter­na­tional treaties. Dur­ing the en­force­ment of the CPTPP, the Gov­ern­ment will con­tinue to re­view le­gal doc­u­ments to make timely amend­ments and sup­ple­ments.

At the work­ing ses­sion, Deputy Prime Min­is­ter and For­eign Min­is­ter Phaïm Bình Minh pre­sented a re­port ex­plain­ing in de­tail the CPTPP and rel­e­vant doc­u­ments.

Minh, who said that the CPTPP would ben­e­fit Vieät Nam over­all, said due to the fact that the trade pact would cover 13.5 per cent of global GDP, Vieät Nam’s GDP would grow by 1.32 per­cent, and its ex­ports 4.04 per­cent by 2035.

In ad­di­tion, free trade agree­ments with the CPTPP coun­tries would help to re­struc­ture the coun­try’s im­port-ex­port mar­ket in a more bal­anced way, thereby en­hanc­ing the au­ton­omy of the econ­omy. Vieät Nam also would also have the op­por­tu­nity to par­tic­i­pate in the sup­ply chain es­tab­lished af­ter the CPTPP is in ef­fect, an im­por­tant con­di­tion for im­prov­ing the level of eco­nomic de­vel­op­ment.

Com­mit­ments in the CPTPP would im­prove the coun­try’s busi­ness en­vi­ron­ment and at­tract more for­eign di­rect in­vest­ment (FDI), the deputy PM said.

The num­ber of jobs would in­crease by 20,000-26,000 a year along with the trade pact, while the poverty rate would fall, the re­port said.

How­ever, join­ing the CPTPP with the wider mar­ket would also present many chal­lenges.

Do­mes­tic prod­ucts such as pork and chicken might face strong com­pe­ti­tion from im­ports, Minh said.

Other prod­ucts that could have trou­ble com­pet­ing would in­clude pa­per, steel and cars, he added.

The re­duc­tion of im­port tar­iffs might re­duce bud­get rev­enues, but there won’t be “sud­den” im­pacts as seven out of 10 other CPTPP coun­tries cur­rently had free trade agree­ments with Vieät Nam, Minh said.

As­sess­ment re­port

Leg­is­la­tors also heard an as­sess­ment re­port on the CPTPP rat­i­fi­ca­tion pro­posal de­liv­ered by head of the NA’s Com­mit­tee for Ex­ter­nal Re­la­tions Nguyeãn Vaên Gi­aøu.

Gi­aøu said that most of the par­tic­i­pants in the as­sess­ment work­ing group en­dorsed the need to rat­ify the CPTPP and con­sid­ered it a new, high qual­ity, com­pre­hen­sive free trade agree­ment.

How­ever, there were con­cerns about dif­fer­ences in the level of eco­nomic de­vel­op­ment in Vieät Nam with the mem­ber coun­tries of the agree­ment.

Some mem­bers sug­gested the Gov­ern­ment closely con­trol these risks and chal­lenges, while tak­ing the ini­tia­tive to min­imise neg­a­tive im­pacts dur­ing the im­ple­men­ta­tion process.

Min­is­ter of In­dus­try and Trade Traàn Tuaán Anh said the CPTPP was a quite com­pre­hen­sive agree­ment as it cov­ered prin­ci­ples not only in trade and in­vest­ment but also in in­tel­lec­tual prop­erty.

It re­quired Vieät Nam to re­form its in­vest­ment and busi­ness en­vi­ron­ment, as well as in­sti­tu­tions, he said.

The min­is­ter added the agree­ment would put com­pet­i­tive pres­sure on en­ter­prises and the econ­omy, help­ing Vieät Nam grow more sus­tain­ably.

Deputy Vuõ Tieán Loäc from Thaùi Bình said the CPTPP’s im­pact on the econ­omy and Viet­namese en­ter­prises would be an ex­panded mar­ket with pref­er­en­tial tar­iff poli­cies.

“Vieät Nam will have many ad­van­tages in ex­port­ing to CPTPP mem­ber coun­tries, es­pe­cially in gar­ments and tex­tiles, shoes and leather, agri­cul­tural and fish­ery prod­ucts,” Loäc said.

Traàn Hoaøng Ngaân, a deputy from HCM City, said that the first thing Vieät Nam should seize from the CPTPP was in­ter­na­tional in­te­gra­tion, as well as com­plet­ing its mar­ket mech­a­nism in a stronger and more ad­vanced man­ner.

Vieät Nam should cre­ate high­qual­ity prod­ucts with com­pet­i­tive prices to serve the de­mands of CPTPP mem­ber states who have high in­come per capita and huge de­mand in con­sumer mar­kets, Ngaân added.

Shar­ing the same view­point, Phaïm Khaùnh Phong Lan from HCM City be­lieved that Viet­namese ex­ports, par­tic­u­larly fruit, veg­eta­bles and seafood, would en­joy pref­er­en­tial tax rates, thus gain­ing a com­pet­i­tive edge.

She said that lo­cal en­ter­prises should make ra­tio­nal in­vest­ments to pre­vent heavy losses.

How­ever, some deputies feared that the CPTPP would chal­lenge Viet­namese trade, in­vest­ment, ser­vice, agri­cul­ture, bud­get col­lec­tion, in­tel­lec­tual prop­erty, labour and in­for­ma­tion safety. They said that eco­nomic de­vel­op­ment dis­par­ity would be one of the ma­jor ef­fects.

Re­gard­ing some key labour and em­ploy­ment is­sues upon join­ing the CPTPP, Ngoâ Duy Hieåu from Haø Noäi said that the Gov­ern­ment should work to com­plete mech­a­nisms re­lated to labour and trade unions. Com­plet­ing the amend­ments for the Labour Code was an im­por­tant re­quire­ment, he said.

In the af­ter­noon, deputies talked about laws re­lated to plan­ning. — VNS

“Vieät Nam will also be able to af­firm its im­por­tant role and ge­o­graph­i­cal-po­lit­i­cal po­si­tion in South­east Asia and Asia-Pa­cific at large, while ad­vanc­ing its po­si­tion within the As­so­ci­a­tion of South­east Asian Na­tions (ASEAN), in the re­gion and the in­ter­na­tional arena.” PARTY GEN­ERAL SEC­RE­TARY AND PRES­I­DENT NGUYEÃN PHUÙ TROÏNG

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