The Trans-Pacific Partnership Agreement (TPP) was expected to have agreat influence on the Vietnamese economy in general and the stockmarket in particular.

Its impacts might be stronger thanthose when Vietnam joined the World Trade Organisation (WTO) in2007, heard the "TPP and opportunities for the stock market" seminarheld by BIDV Securities Company on October 10.

Some experts said that Vietnam would be the country that benefited the most from joining the TPP.

Thereare currently 12 countries participating in the TPP negotiations,including Japan and the US , which have the largest trade turnoverwith Vietnam .

In the first eight months of this year, Vietnam 's trade surplus with the US reached 11.68 billion USD.

Amongexport sectors to the US , textile would enjoy significant advantageswhen Vietnam signed the TPP, said BIDV Securities, noting two listedtextile firms with high liquidity – Thanh Cong Textile and GarmentInvestment (TCM) and TNG Investment and Trading (TNG).

Domestic textile and garment businesses had rapid revenue growth, but profitability was not as high as expected.

"Therefore,small changes in tax rates, exchange and interest rates as Vietnamjoined the TPP will also strongly impact the profitability of theseenterprises," BIDV Securities commented.

In addition, oneof the most notable in the TPP negotiations was that Vietnamcommitted not to interfere in the operation of State-owned enterprises (SOE s) and promised to lift foreign holdingship in the market.

Recently, the Government has urged SOEs to divest from their non-core industries.

"It is a big opportunity for Vietnam 's stock market," said BIDV Securities' head of consultancy Nguyen Xuan Thong.

Foreigninstitutions had expected the divestment of SOEs for long, he added."It's their chance to buy cheap assets in a potential market likeVietnam ."

Thong revealed that there were over 40 SOEs forced to divest and make their financial conditions transparent.-VNA