Workshop Reviews Two Years of CPTPP Implementation in Vietnam

1:25:33 PM | 9/4/2021

 The Vietnam Chamber of Commerce and Industry (VCCI) held a workshop in Hanoi on April 7 to review two years of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) implementation in Vietnam from the perspective of enterprise.

Accordingly, after two years of implementing the CPTPP, exports to the markets within the agreement have all grown, reaching US$34.3 billion in 2019 (up 8.1%), and maintaining US$34 billion in 2020.

The share in total exports in 2018 was 12.02%, 13% in 2019 and 12.02% in 2020. Vietnam’s main export items such as footwear, textiles, wood and wood products continued to grow well.

However, the rate of taking advantage of the CPTPP tariff preferences for Vietnamese exports in 2019 is only 1.67%, which is very low compared to the average of 37.2% in 2019 as well as compared to the rate of utilising the first year in many other free trade agreements. This is a sign of concern that the possibility of realising direct export benefits from the CPTPP is still limited.

Source: NDO