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Vietnam’s exports to CPTPP countries surge

20:04 | 07/04/2019

Vietnam’s exports to several member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have surged so far this year, according to the Ministry of Industry and Trade at a recent press conference on industrial manufacturing and trade activities.

vietnams exports to cptpp countries surge

Vietnam’s shipment to Japan in the reviewed period has reached US$2.9 billion while it was US$2.6 billion the same period last year, followed by Canada and Mexico.

269 certificates of origin were issued in CPTPP new form since the agreement took effect in Vietnam.

Ngo Chung Khanh, Deputy Director of the Multilateral Trade Policy Department of the Ministry of Industry and Trade, said “219 of 269 certificates of origin were issued to Canada, illustrating a fact that Vietnamese exporters are utilizing the CPTPP advantages to penetrate into Canada, one of the three countries that Vietnam hasn’t signed any free trade agreements with. 14 certificates of origin were issued to Mexico and eight to Peru. In the medium and long term, Vietnam will benefit more from the CPTPP when more countries have opened possibility to join the agreement.”

The Ministry of Industry and Trade is working with the World Bank and the Australian Embassy in Vietnam to build a web portal on free trade agreements, with the core being the CPTPP.

This smart search tool provides intensive information for each product and sector to seize the best opportunities created by the CPTPP.

Source: VNA