On 12 November 2018 the National Assembly of Vietnam formally ratified the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The CPTPP is an open agreement that allows other countries to join after the deal takes effect if they accept its principles and are approved by the member states. Vietnam is the seventh economy to ratify the CPTPP joining New Zealand, Australia, Canada, Japan, Mexico and Singapore.
Minister for Trade and Export Growth said that, ‘Viet Nam will join the agreement in 60 days’ time and within weeks of the agreement taking effect for the first group of six economies on 30 December 2018. The CPTPP will help to modernize the trading rules between us and contribute to further growth in our business and investment ties.’’