Build a portal dedicated to TPP and EVFTA

Building a portal dedicated to TPP and EVFTA

The information portal dedicated to TPP and EVFTA will be developed by the Ministry of Industry and Trade in the near future to provide complete information for businesses, state agencies and people.

 Deputy Minister of Industry and Trade, Tran Quoc Khanh said, is part of the plan to implement the Trans-Pacific Partnership Agreement (TPP) and the Free Trade Agreement Vietnamm – EU (EVFTA), the Ministry of Industry and Trade will build an Information Portal specifically for TPP and EVFTA.

The Ministry of Industry and Trade also coordinated to organize nationwide dissemination activities for all relevant subjects, including State agencies, the business community and the people.

The information portal dedicated to TPP and EVFTA will provide complete information to the business community, state agencies and people.

According to information from Deputy Minister Tran Quoc Khanh, up to this point,  TPP member countries have been ratifying the Agreement. In particular, Australia has submitted to the National Assembly to proceed with ratification procedures, but is still waiting for the new Government. Canada is consulting with the public and the National Assembly and is expected to submit it to the National Assembly in 2016. Japan has submitted it to the National Assembly and is expected to pass it at the Fall 2016 session. Newzealand has submitted it to the National Assembly and is expected to pass it by the end of this year.

The United States is consulting with the National Assembly, the Government is calculating the time to submit it to the National Assembly.

In Vietnam, the full text of the Trans-Pacific Partnership Agreement (TPP) will be submitted to the 14th National Assembly for ratification at the meeting taking place at the end of July.

Regarding the provisions on ratification of the TPP, according to the Ministry of Industry and Trade, the Agreement will take effect within 60 days after all countries notify New Zealand (the country hosting the document) of the completion of domestic legal procedures on ratifying the Agreement.

In case not all countries complete domestic legal procedures within 2 years from the date of signing, the TPP Agreement will take effect within 60 days from the expiration of the 2-year period if at least 6 countries with at least 85% of their combined gross domestic product by 2013 value complete legal procedures within this time.

For EVFTA, after completing the legal review, Vietnam and the EU will implement procedures to prepare for signing the Agreement. Currently, the official signing date of the Agreement has not been determined, however, the two sides agreed to make efforts to complete the necessary procedures for the Agreement to take effect from the beginning of 2018.