Up to 72 percent of enterprises support TPP

Monday, Jun 20, 2016 14:40

Up to 78 per cent of the asked enterprises said they are aware of the trade deal, an increase of 10 per cent compared with that in 2014.— Photo VNA

HA NOI (Biz Hub) — The proportion of enterprises in Viet Nam showing support for the Trans-Pacific Partnership (TPP) rose from 62 per cent in 2014 to 72 per cent in 2015, according to the Vietnam Chamber of Commerce and Industry (VCCI)'s recent survey participated by about 1,000 businesses.

The survey indicated that 78 per cent of the asked enterprises said they are aware of the trade deal, up from 68 per cent in 2014.

The figures, which are on the rise, reflect the businesses are ready for the pact, at least in terms of the attitude, said Director of the VCCI's WTO Centre Nguyen Thi Thu Trang.

She referred to those as reasons to be optimistic about the success of the deal.

It is also reported that, by the end of 2015, 70 per cent of the domestic enterprises showed understanding of the pact, lower than 86 per cent of FDI companies from the TPP member states and 82 per cent of those from the TPP outsiders.

However, local firms expressed the strongest approval for the trade deal with 73 per cent of the respondents backing the accord, compared to 67 per cent of the FDI companies from the TPP members and 65 per cent of those from outside the pact.

The TPP was concluded on October 5, 2015 after seven years of negotiation between 12 countries – Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Viet Nam.

It was signed on February 4 this year and is in the process of being ratified by each member state. The ratification procedures will take about two years. — VNS

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