Hanoi (VNA) – Deputies in favour of the need to ratify the Comprehensive andProgressive Agreement for Trans-Pacific Partnership (CPTPP) were the majorityat the National Assembly (NA) meeting on November 2, agreeing that it is ahigh-quality, new generation pact.

Working in groups at the ongoing sixth plenum of the 14th National Assembly, theysaid the CPTPP is a strong motive for Vietnam to improve its capacity anddiversify its market in response to complicated global economic performance andthe rising tide of protectionism. Further, they added, joining the pact affirmsthe country’s commitment to global integration, as well as its role andposition in Southeast Asia and the Asia Pacific.

CPTPP will pave the way for the Southeast Asian country to acceleratenegotiations and successfully sign other free trade deals, like the EuropeanUnion-Vietnam Free Trade Agreement (EVFTA), and the Regional ComprehensiveEconomic Partnership (RCEP).

Tran Hoang Ngan, a deputy from Ho Chi Minh City, said that the firstopportunity Vietnam can seize from the CPTPP is in promoting internationalintegration, as well as completing the market mechanism in a stronger and moreadvanced manner.

Vietnam should create high-quality products with competitive prices to serve thedemands of CPTPP member states who have high income per capita and huge demandin consumer markets, Ngan added.

Sharing the same viewpoint, Pham Khanh Phong Lan from Ho Chi Minh City believedthat Vietnamese exports, particularly vegetables, fruit, and seafood, willenjoy preferential tax lines, thus gaining competitive edge over the sameproducts of rivals.

She said that local enterprises should make rational investments to preventheavy loss.

However, some deputies feared that the CPTPP will challenge Vietnamese trade,investment, service, agriculture, budget collection, intellectual property,labour, and information safety. They said that economic development disparitywill be one of the major effects.

Regarding some key labour and employment issues upon joining CPTPP, Ngo DuyHieu from Hanoi said that the Government should work to complete mechanismsrelated to labour and trade unions. Completing the amendments for the LabourCode is an important requirement, he suggested. –VNA