Since the Australia Senate ratified the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on 31 October 2018 as the sixth country having ratified the CPTPP, the CPTPP will come into effect from 30 December 2018. Vietnam became the seventh country who finished the ratification of CPTPP on 12 November 2018.

Under the CPTPP’s terms, the accord requires ratification by at least six signatory countries and the CPTPP would come into effect after 60 days from the date of the sixth country’s ratification. Prior to Vietnam, the countries that had ratified the CPTPP are Australia, Canada, Japan, Mexico, New Zealand, and Singapore.

Vietnam looks forward to the implementation of the CPTPP since this Agreement will provide Vietnam with more opportunities to access quality products and advanced services, even though the U.S. – one of Vietnamese strategic partner in trade, withdrew from its own deal. (See more in here)

On 12 November 2018, the National Assembly of Vietnam finished its ratification regarding CPTPP and its regulations with the consensus of 100% members who presented at the meeting. The National Assembly assigned the Prime Minister to approve and to direct relevant agencies and organizations at central and local levels to employ the implementation plan of the CPTPP; to focus on the importance of human resource training in order to ensure to take the most advantage of CPTPP and to promote the opportunities as well as benefits provided by the accord.

It has been reported that there should be legal reform focusing on Vietnamese regulations in fields of anti-corruption, criminal law, intellectual properties, labor, insurance business, and food safety. It is also noted that potential new members such as UK, Colombia, South Korea, Taiwan, and Thailand have been considering accession to the CPTPP.


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