Why can Vietnam join cptpp?

The reasons why Vietnam can join cptpp are as follows:

Recently, Lê Ti, general manager of Vietnam National Textile and Apparel Group (Vinatex)? N Trng said at a seminar in Canada: Vietnam's textiles and clothing exported to CPTPP (Comprehensive and Progressive Trans-Pacific Partnership Agreement) market failed to meet the country's status as the second largest clothing exporter in the world.

The activity is part of the trip of Vinatex officials and their five member companies to Canada, aiming at promoting Vietnam's textile and clothing exports to Canada.

It is estimated that the total demand for textiles and clothing of CPTPP 1 1 member countries is about $83 billion per year. Trng said that in 20 18, Vietnam's textile and garment exports to CPTPP market reached 5.3 billion US dollars, accounting for 6.3% of the total market.

According to Vietnamese media, the total annual demand for textile and clothing products in Canada is about130-14 billion US dollars, but only 5% of it comes from Vietnam.

The CPTPP agreement came into effect in Vietnam on June 5438+ 10/4 this year, which is expected to promote the export of textile and clothing products from Vietnam to Canada, because 42.9% of the products can enjoy zero tariff within one year after the agreement comes into effect.

CPTPP is a new name jointly announced by the former 1 1 countries after the United States withdrew from the Trans-Pacific Partnership Agreement, and its predecessor was the Trans-Pacific Partnership Agreement (TPP). After Trump was elected president and the United States officially announced its withdrawal from TPP, Japan and Vietnam actively promoted the negotiation and signing of CPTPP.

20 17 1 1 month,? Vietnamese Minister of Industry and Trade Chen and Japanese Minister of Economy, Trade and Industry held a press conference in Da Nang, Vietnam, announcing that 1 1 countries other than the United States will continue to promote TPP. 20 18 12, CPTPP, which inherited most of the TPP clauses, came into effect.

For Vietnam, the signing of CPTPP is very beneficial to its economic development. Vietnam has abundant labor reserves and relatively low wages and prices, which makes Vietnam have its own unique competitive advantage among CPTPP countries. To a certain extent,

Vietnam has assumed the role of production terminal processing factory, which not only meets the needs of rational utilization of demographic dividend in Vietnam, but also provides an opportunity for Vietnam to learn advanced production technology and management concepts from other countries and promote industrial transformation and upgrading. The implementation of CPTPP has brought many opportunities to Vietnam, but at the same time, severe challenges have followed.