The Trans-Pacific Partnership involves 12 countries but some look set to benefit more than others from the agreement, with Vietnam and Malaysia singled out as two likely winners.

Each of the 12 countries that signed up to the landmark Trans-Pacific Partnership (TPP) agreement expects to benefit greatly from a deal that will open up a vast new market of 800 million people for their products and spans a large portion of the globe.

However, none has higher expectations than Vietnam, which experts say has emerged as the big winner of the TPP agreement, with Malaysia as the runner-up, in the struggle to boost exports and attract FDI.

The agreement’s 30 chapters cover various trade and trade-related issues, including reducing tariff and non-tariff barriers in sectors as diverse as agriculture, industrial goods, pharmaceuticals, service industries, financial services and telecommunications.

The agreement also deals with investment, intellectual property, labour, the environment, good governance and methods for dispute settlement.

Novel features of the agreement include addressing the roles of state-sponsored enterprises and e-commerce, and its commitment to assisting small and medium-sized enterprises so that they benefit from the new trade openings. It will also work towards facilitating the development of production and supply chains and seamless trade.

Source: Vietnam and Malaysia predicted to be FDI winners of TPP agreement

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Chinese carmaker Hozon to set up EVs plant in Thailand

Hozon, a Chinese electric vehicle (EV) maker, is expanding its presence in…

Thai Industrial sentiment at 10-year high

The Federation of Thai Industries (FTI) has reported a rise in the Thai Industries Sentiment Index (TISI) in March 2023, attributed to an increase in foreign tourist numbers and domestic tourism promotion measures.

Singapore retains its position as the Top Business Environment in the World

The biggest improvements over the past year are in Vietnam, Thailand, Belgium, Sweden, India and Costa Rica. Vietnam is the overall biggest mover worldwide, climbing 12 spots in the rankings, while Thailand improves by ten places and India by six.