At a press conference held in Atlanta (USA), the Trans-Pacific partnership agreement (TPP) has ended negotiations and this has meant alot for Vietnam in terms of attracting investment.
The TPP has officially becoming the landmark agreement of the 21st century, creating a new standard for global trade with the new generation issues.
There are 5 main characteristics that make TPP become a landmark agreement of the 21st century, creating a new standard for global trade while referring to the issues of new generation.
- Accessing to the market in a comprehensive way, based on tariff reduction and non-tariff barriers
- Proposing the commitments
- Facilitating the development of production and supply chain
- Solving new challenges for trade
- Ensuring that the economies at all levels of development and businesses of all sizes can benefit from trade
Accordingly, the agreement includes the commitments to help small and medium businesses understand the agreement, taking advantage of the opportunities that the agreement provides and raises significant challenges to Government of country members.
The agreement also includes specific commitments on developing and improving the trade capacity, ensuring that all parties are able to meet the commitments in the agreement and fully utilize the benefits of agreement.
TPP also provides a foundation for regional integration and built to include other economies Trans Asia – Pacific.
Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.