HANOI, March 9 (Xinhua) -- The Trans-Pacific Partnership (TPP) will certainly continue in another form after the U.S. withdrawal, according to Vu Tien Loc, chairman of Vietnam Chamber of Commerce and Industry (VCCI) on Thursday.
We believe that TPP member countries, even the United States, dont want to waste the six years of negotiation and large opportunities the trade deal would bring, Loc was quoted by Vietnams state-run news agency VNA as saying.
The TPP, which could be a bilateral or multilateral trade deal, may come into effect at a later date than previously scheduled, which was 2018, Loc forecast.
Vietnam has made a lot of expectations from the TPP as it will open large markets and create significant opportunities for trade growth and for improving domestic economic institutions, said the official, adding that with the TPP on shaky legs, Vietnam is now looking more forwards to the European Union-Vietnam Free Trade Agreement (EVFTA), which is expected to come into force in 2018.
To date, Vietnam has signed 12 bilateral and multilateral trade deals, 10 of which have already come into force. Four other Free Trade Agreements (FTAs) are under negotiation, including the Regional Comprehensive Economic Partnership, ASEAN-China's Hong Kong Special Administrative Region FTA, FTA with Israel and with European Free Trade Association, said VNA.
