With the successful conclusion of the Trans-Pacific Partnership (TPP), the United States and Vietnam are poised to become partners in a trading block that represents nearly 40 percent of global GDP.
US Ambassador to Vietnam Ted Osius on October 8 said in a statement that with the successful conclusion of the Trans-Pacific Partnership (TPP), the United States and Vietnam are poised to become partners in a trading block that represents nearly 40 percent of global GDP.
The TPP is an ambitious, comprehensive, high standard and balanced trade agreement, he added, stating that it represents another important step forward to strengthen the economic ties between the two countries and further deepen the bilateral relationship in the 20th year of normalised bilateral relations.
“We look forward to working with partners in Vietnam and the other TPP member countries to implement the historic agreement,” the ambassador said.
He stressed that the agreement has the power to support jobs, create new opportunities, promote a fair global economic system, and transform the lives of hundreds of millions of individuals to ensure continued peace and stability in a fast changing world.
Trade ministers from the 12 TPP member countries reached final consensus on the world’s largest free trade agreement on October 5 after more than five years of negotiations.
Once it comes into effect, it will delineate the world’s largest free trade area with a population of 800 million people, representing about 40 percent of the global gross domestic product and 30 percent of the global trade turnover.
TPP members states are Australia,ꦬ Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam.-VNA
Trade ministers from Trans-Pacific Partnership (TPP) member countries reached consensus on a number of issues after their first day of sitting in Atlanta, Georgia, the US on October 1 (Hanoi time).
Trade ministers from Trans-Pacific Partnership (TPP) member countries attending the round of talks in Atlanta, Georgia, the US have decided to extend their negotiations to October 5 (US time).
The Trans-Pacific Partnership (TPP) agreement will benefit Vietnam in not only economic but also institutional and social terms, said Minister of Industry and Trade Vu Huy Hoang.
The US, Singapore, Peru, Mexico and Australia have raised optimistic voices over the recently completed Trans-Pacific Partnership (TPP) agreement, to which they are members.
Once ratified by member country parliaments, the newly-reached Trans-Pacific Partnership agreement will open up a new road to the future of cooperation and integration in the region.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
US Ambassador to Vietnam Ted Osius (Photo:VNA)
