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Officials from the 12 countries in the Trans-Pacific Partnership (TPP) trade agreement concluded talks on October 5, after years of heated negotiations.
The deal must now be ratified by various individual governments before it takes effect.
Nevertheless, the accord is one of the greatest accomplishments in the history of free trade agreements, gathering together countries whose gross domestic product (GDP) accounts for two-fifths of the global economy and potentially serving as the stepping stone to a larger free trade agreement for the Asia Pacific.
But the TPP will surely bring about economic and institutional repercussions in a number of member economies.
TPP is openly discussed on social media and among the country’s intellectuals
In Vietnam, good news about the TPP is openly discussed on social media and among the country’s intellectuals. Vietnam is in a position of getting more gains than losses from participating in the TPP.
In economic terms, Vietnam will arguably be one of the biggest beneficiaries of the trade deal.