CP-TPP Agreement: Opportunities and Challenges for Vietnam's Economy

This article analyzes the Comprehensive Partnership for Trans-Pacific Partnership (CPTPP), with its precursor, the Trans-Pacific Partnership (TPP), was signed in Chile on March 8. The agreement involves the participation of 11 economies, including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. It is the world's largest market size, about 13.5% of global GDP and nearly 500 million people. The CPTPP agreement, with its level and scope of deep commitment, will have a profound impact on the environment and global business conditions in general and in the countries in particular. This creates new opportunities but also challenges for Vietnamese enterprises. This article also proposes policies for the Vietnamese economy to take advantage of opportunities as well as to meet the challenges of the CPTPP.