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TPP ratification planned for first session of NA XIV

Released at: 17:17, 11/05/2016

TPP ratification planned for first session of NA XIV

Work underway to prepare submission for ratification to National Assembly.

by Luong Nhi

Prime Minister Nguyen Xuan Phuc has decided to submit the ratification of the TPP to the first session of the National Assembly XIV at the end of July.

As part of preparations the government has approved a review by the Ministry of Justice and listed legal documents.

It has assigned the Ministry of Industry and Trade to coordinate with the Ministry of Justice, the Office of the Government, and related ministries to improve the submission regarding the TPP.

The Ministry of Justice will lead and coordinate with related ministries, agencies and people’s committees to review laws to ensure the enforcement of the TPP and will propose any necessary adjustments to laws.

All reviews and proposals must be submitted to the government for its annual meeting in December.

The TPP includes 12 countries: New Zealand, Australia, Canada, the US, Mexico, Japan, Malaysia, Brunei, Singapore, Peru, Chile and Vietnam.

On February 4 the former Minister of Industry and Trade Vu Huy Hoang signed the TPP and 35 bilateral agreements with TPP members relating to financial services, textiles, agriculture, and intellectual property.

The TPP and the bilateral agreements are expected to come into effect by 2018.

The agreement includes 30 chapters, not only on traditional matters such as goods, services, and investment but also new matters such as e-commerce, supply chains, and State-owned enterprises.

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