This morning, the Office of the Ministry of Industry and Trade informed the press of the results of the eighth session of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) Commission taking place in Canada’s Vancouver from November 26 to 28 chaired by Minister of Export Promotion, International Trade and Economic Development Mary Ng. Canada host this year’s CPTPP Commission.
At the meeting, members noted an important milestone when the UK officially became a member of CPTPP from December 15, 2024, after completing the ratification process in 9/11 member countries.
A representative from the Ministry of Industry and Trade highlighted that the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has significantly contributed to enhancing Vietnam's import and export activities with nations in the Asia-Pacific region.
Vietnam's trade relations with CPTPP member countries have seen significant growth. By the end of September 2024, bilateral trade had reached $76.3 billion, representing a 9.6 percent year-on-year increase. Exports to CPTPP countries amounted to $41.4 billion, a 11.6 percent increase while imports reached $34.8 billion, a 7.5 percent increase.
On the sidelines of the meeting, Vietnamese Minister of Industry and Trade Nguyen Hong Dien engaged in bilateral discussions with Ms. Mary Ng.
Minister Nguyen Hong Dien expressed concern about the increase in trade defense cases targeting Vietnamese goods in the Canadian market, especially anti-dumping investigations.
He called on Canada to strictly comply with World Trade Organization regulations, conduct transparent and objective investigations, and create a fair process for the Vietnamese Government and businesses to provide relevant information.
Minister Nguyen Hong Dien urged Canada to enhance collaboration in trade defense, emphasizing the importance of timely notifications regarding potential investigations, the organization of both bilateral and multilateral discussions, and the removal of unwarranted inquiries into specific markets.
The CPTPP is set to welcome the United Kingdom on December 15 and is also contemplating the inclusion of Costa Rica.
