The conclusion of the five-year negotiations on the Trans-Pacific Partnership (TPP) agreement may be hailed as a huge success by the 12 participating countries, but some industries in Vietnam believe that the ambitious trade deal will not only bring opportunities to them. Not all the gains from the pact, which would liberalize trade in 40 percent of the global economy for a region stretching from Vietnam to Canada, will be spread evenly among Vietnamese industries, according to insiders. While Vietnam’s apparel and footwear sectors are poised to benefit from the elimination of tariffs in the U.S. and other major export markets, such industries as agriculture and livestock may have more challenges than chances. "It can be said that livestock will face the most difficulties once the TPP takes effect," Minister of Industry and Trade Vu Huy Hoang told the Vietnam News Agency on the heels of the announcement of the TPP deal in Atlanta on Monday. Vietnam’s livestock … [Read more...] about Trans-Pacific Partnership accord not good news for all Vietnamese industries
Trans pacific partnership vietnam
Vietnam hails Trans-Pacific Partnership agreement
The conclusion of the Trans-Pacific Partnership (TPP) negotiation brings both chances and challenges for Vietnam’s economy, but experts and industry insiders are upbeat about the benefits that will follow from what has been called the most ambitious trade pact in a generation. The TPP deal, which aims to liberalize commerce in 40 percent of the world's economy, was reached following days of negotiations in Atlanta on Monday, and sparked mixed responses from the 12 Pacific Rim countries participating. The deal is now pending approval by lawmakers in all TPP countries, which include Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the U.S. and Vietnam. If approved, the TPP pact would cut trade barriers and set common standards for what will be the world's largest free-trade zone. For Vietnam, the trade pact will "create many opportunities for the Vietnamese textile and garment industry," Minister Vu Huy Hoang said at the press … [Read more...] about Vietnam hails Trans-Pacific Partnership agreement
Trans-Pacific Partnership could raise stakes for Vietnam’s sick
, then US secretary of state, visits the Ngoc Lam pagoda, which receives funding from the US President's Emergency Plan for AIDS Relief (PEPFAR), in Hanoi, Vietnam, in 2010. Photo credit: Bloomberg … [Read more...] about Trans-Pacific Partnership could raise stakes for Vietnam’s sick
Trans-Pacific Partnership and self-regulating agricultural firms
In the United States, much of the review and safety standards for agricultural output are self-governed. In other words, the United States Food and Drug Administration has left it up to the manufacturers of said food and drugs to decide if in fact they are safe for consumption - human consumption. This especially holds true in the agriculture sector where US-based multi-national corporations such as Monsanto produce the largest volume of genetically modified seeds in the world. Instead of the regulatory agency, which is charged with safeguarding the health of the American citizen, they have turned over safety standards to those companies that manufacture, in this case, food producing seeds. It is the manufacturer, not the FDA, which decides what is safe for human consumption. One would assume this to be a ludicrous, if not dangerous, practice. Indeed it is. Corporations such as Monsanto are focused on profits and return on investment as public companies so often are. But … [Read more...] about Trans-Pacific Partnership and self-regulating agricultural firms
Vietnam and US eye trans-Pacific partnership agreement
Speaking to lecturers and students of the Hanoi-based Institute for International Relations on Wednesday, Max Baucus, Chairman of the US Senate Committee on Finance, discussed the Trans-Pacific Partnership Agreement as a "future goal" for the two countries. Baucus emphasized this target, suggesting that "the two countries have to take advantage of great potential of the Asia-Pacific region." According to Baucus, this agreement is based on free-trade agreements that the US has signed with other countries, like Singapore, Chile, Australia, and Peru, and other important partners, such as Vietnam, can participate in when they are ready. Doubling effort Regarding the necessity to promote educational cooperation between the two sides, Baucus said: "We can not together build up a future if we do not understand and respect each other. We can not understand and respect each other if we do not know about each other. And we can not know about each other if schools and universities of the two … [Read more...] about Vietnam and US eye trans-Pacific partnership agreement