Opportunities and Challenges when Vietnam Joins TPP

Abstract

The Agreement on Trans-Pacific Partnership (TPP) currently undergoes 19 rounds of negotiations, with the participation of 12 member countries. With high standards, large space of 14 countries and regions (including the two potential members which are South Korea and Taiwan), with over 800 million people, contributing about 40% of gross domestic products (GDP) of the world and approximately 30% of global trade turnover, TPP is expected to be a "treaty of the 21st century", offering many opportunities for international trade and investment. Vietnam has participated in negotiations since 2010 and is facing opportunities and major challenges from TPP, especially in the field of trade. However, this study does not assess the impact of TPP for Vietnam on trade alone, but recognize the opportunity and challenge of TPP in the overall relationship with the progress of reform and development of the country in the coming years.