Comprehensive and progressive partnership agreement (cptpp) – opportunities and challenges for vietnamese businesses

Nội dung text: Comprehensive and progressive partnership agreement (cptpp) – opportunities and challenges for vietnamese businesses

1. COMPREHENSIVE AND PROGRESSIVE PARTNERSHIP AGREEMENT (CPTPP) – OPPORTUNITIES AND CHALLENGES FOR VIETNAMESE BUSINESSES Ph.D Nguyen Thi Thuy Hong1 Abstract: The Comprehensive and Progressive Agreement for Trans–Pacific Partnership (CPTPP) was officially signed by 11 participating countries in early March 2018, in which Vietnam is considered an active participant in negotiations and signing. The issue of public interest is that CPTPP is a new generation free trade agreement that is expected to bring many opportunities and challenges for Vietnamese businesses. The problem is that businesses need to prepare well the conditions to be able to integrate CPTPP in the best way to promote economic development growth in the future with many fluctuations of the domestic and international markets. Keywords: Opportunities, challenges, CPTPP, Vietnamese enterprises. 1. GENERAL OVERVIEW OF CPTPP On March 8th, 2018, the CPTPP, formerly known as the Trans–Pacific Partnership (TPP), was signed by 11 participating countries in Santiago City (Chile). This is an attempt by 11 Economies proposed by Japan to restart a “new TPP” following the U.S. withdrawal. Basically, CPTPP keeps the core contents of the "old" TPP in the hope of waiting for the return of the U.S. However, CPTPP, which has more than 20 terms, has been suspended or amended compared to the previous TPP agreement. These changes include: (1) Name change. The CPTPP added the words "Comprehensive" and "Progressive" to the official name. The name issue has been discussed several times by 11 countries during the rounds of negotiations. This addition has shown high consensus within the countries participating in the negotiations, affirming the stature, quality and significance of CPTPP – an agreement of high standards, comprehensive in all fields, not only in terms of trade but also investment, intellectual property and many other issues and principles. In essence, the agreement is more highly valued, more progressive than the free trade agreements that have been signed before. (2) Number of members of the CPTPP. The 11 member states (including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam) account for about 13.5% of GDP and 15.2% of global trade turnover, well below the size of the TPP with the US (38.2% of GDP and 26.5% of global trade turnover). Despite the U.S. withdrawal, the size of CPTPP is still quite large, while the burden of enforcing the terms has decreased significantly compared to before. (3) On the validity of the CPTPP. According to the provisions of the old TPP, in order for the Agreement to take effect, the total GDP of implementing countries must be equal to 85% of the total GDP of the 12 countries signed since 2013. Thus, with the U.S., the country accounting for 60% of the bloc's GDP, withdrawing from the TPP, the remaining 11 countries will have to change the terms of validity so that CPTPP can start. Accordingly, if at least 6 Member Countries sign the ratification, the Agreement will take effect 60 days after the date of signing. This change has created favorable 1 National Economics University. 812
2. conditions for CPTPP to be easily implemented in the current context. In addition, the new Agreement also adds regulations on the process of withdrawing, joining, reviewing CPTPP in the future, creating flexibility of the Agreement and getting ready for new rounds of membership. (4) CPTPP has about 20 contents suspended compared to the old TPP (mainly tough intellectual property commitments that the U.S. was the formerly proposed country). Specifically, there are 11/20 terms related to intellectual property, closely protecting the rights of patent owners. CPTPP will postpone asking member states to change their laws and regulations to protect new pharmaceuticals, including arising preparations, from competition by original drugs. CPTPP also suspends regulations on extension of copyright term in cases due to licensing authority delays or unreasonable delays in licensing, as well as licensing the import of certain pharmaceuticals into member states. In addition, member states of the new Agreement will not need to extend the copyright protection period from 50 to 70 years. 2. OPPORTUNITIES AND CHALLENGES FOR VIETNAMESE ENTERPRISES TO JOIN CPTPP When implemented, in addition to the opportunities opened up for Vietnam's economy, the CPTPP also poses many challenges. Specifically: 2.1. Opportunities for Vietnamese enterprises to join CPTPP CPTPP is a comprehensive agreement that covers the principles of trade, investment, intellectual property and many other topics. The agreement will put pressure on the reform of the investment and business environment, opening up many opportunities for Vietnamese enterprises to develop and promote the socio-economic development of Vietnam. Specifically: Firstly, institutional reform, creating a favorable business environment: CPTPP has conditions of high institutional standards, quality of state management as well as legal framework. Participation in this Agreement will contribute to institutional environmental reform, towards international "rules of the game". This is a necessary condition for growth, bringing positive motivation to develop the country. Institutional reform will help the whole society to promote competitiveness, mobilize and make the best use of the resources available in the country and make better use of external resources. CPTPP will help encourage and promote domestic reform in many areas such as services, customs, e-commerce, government procurement, intellectual property, investment, legal issues, market access for goods, rules of origin, non-tariff measures In addition, CPTPP is also the driving force to promote the restructuring of the economy; innovate and rearrange state-owned enterprises; promote reform and simplify administrative procedures; create communication between ministries and branches to improve the competitiveness of the business environment, promote connection and cooperation between domestic enterprises and foreign enterprises. The signing of CPTPP is evaluated by experts as a thrust for institutional reform, especially in the context of improvements, but many business conditions are continuing to create barriers for businesses. Secondly, create economic growth motivation: Statistics of the Ministry of Planning and Investment show that, with CPTPP, GDP is forecast to increase by 1.32%; exports increase by 4%, imports increase by 3.8%. Some industries such as textiles, footwear, other labor-intensive sectors of Vietnam will also benefit and increase exports. Vietnam's fisheries industry will be more positive when countries participating in CPTPP annually import nearly 2 billion USD. According to the Ministry of Planning and Investment, with these advantages, joining CPTPP makes 813
3. Vietnam's export market expand and take advantage of markets that Vietnam has never penetrated before such as Canada, Mexico, Peru. The results of a comprehensive survey of enterprises globally by HSBC showed that about 63% of enterprises in Vietnam believe that CPTPP will have a positive impact on their business. Of the 1,150 enterprises based in CPTPP member countries surveyed, nearly half (46%) expect positive benefits from the Agreement. Thirdly, by adding opportunities for Vietnamese enterprises: In CPTPP, member states have eliminated almost all import duties according to the roadmap, liberalized services and investment on the basis of compliance with the laws of the host country, ensuring the management of the State. According to the Vietnam Textile and Garment Association, CPTPP will help Vietnam promote export growth as well as change the export market structure in a more balanced way. When the tax rate is equal to 0%, CPTPP will help Vietnam's textile and garment industry expand its market share in some countries with high tax rates such as Canada, Newzeland, Australia As well as textiles, CPTPP is an opportunity for businesses to export footwear to increase the proportion, increase export opportunities to potential markets where Vietnam does not have trade agreements such as Mexico, Canada, Peru Particularly, Japan – one of the key markets of vietnam leather and handbag export industry with an average growth rate of 20–35% per year, if enterprises know how to take advantage of the terms from CPTPP, this growth will be even higher than currently. Moreover, the CPTPP after its adopted agreement will open up many opportunities for the Vietnamese business community. With the reduction of taxes to importing countries, enterprises will have new opportunities to expand the supply of products to the market of member countries. The reduction of import duties on products into Vietnam will also help enterprises have new partners, diversify the types of goods, expand the scale of production and business activities. In addition, the Agreement will create a fair, transparent playground and be the basis and foundation for enterprises to have a sustainable development orientation; improve competitiveness, improve the quality of goods and services, production capacity of the economy to catch up with the development trend of the world, thereby more effectively participate in the global supply chain. Along with the above opportunities, the implementation of CPTPP regulations will also help Vietnam become one of the attractive addresses of investment to create opportunities for Vietnamese enterprises to attract strong foreign investment as well as access to modern technology. Participating in the CPTPP, the member countriesmust remove or completely reduce 97–100% of the tariff line will create motivation for Vietnam's exports, especially for exports that are evaluated to benefit many CPTPP agreements such as textiles, footwear, seafood, furniture thereby boosting exports and economic growth. According to the World Bank (2015): “Vietnam is the country that has benefited greatly from joining the TPP with the highest value of GDP and exports compared to the rest of the members, increased by 10% and 30.1% by 2030, while the average added value of all TPP countries was 1.1% and ~11% (compared to the non–TPP integration scenario). Therefore, with the continued membership of CPTPP, Vietnam is still considered the most profitable country when the CPTPP comes into force. Vietnam's trade relations with CPTPP members are quite similar. Many countries participating in CPTPP are the main trading partners of Vietnam such as Singapore, Japan, Malaysia, Australia Vietnam's exports to these countries if in 2012 was only $ 25.45 billion, by 2017 reached $ 34.11 billion (of which Japan accounted for nearly 50%). Therefore, when the CPTPP comes into force, Vietnam's exports to these markets will increase and cptpp countries will play an increasingly important role in promoting Vietnam's export growth. Of the 10 countries exporting 814
4. Vietnam's goods to CPTPP, Japan is the largest with export turnover reaching $ 20,412 billion in 2019 (accounting for 7.5% of the country's export turnover). This was followed by Canada with export turnover of over $ 3.912 billion (in 2019). In addition, Japan and Australia are also export markets of Vietnam's key exports such as textile products; shoes of all kinds; wood and wood products; seafood; agricultural products; micro-machines, electrical products and components; telephones of all kinds and components; machinery and other accessories; bags, suitcases; cashewnuts; crude oil. Therefore, when the countries in CPTPP reduce import tariffs to 0% will help create a big "shock" for the exports of Vietnamese enterprises. For the textile and garment industry, cptpp countries are now important export partners of Vietnam, accounting for nearly 20% of the country's total textile and garment exports. Therefore, when CPTPP is implemented, Vietnam's textile and garment industry is expected to achieve great growth in the coming years. Import duties on textiles and garments to CPTPP countries decreased by 50% in the first year CPTPP came into force (equivalent to $ 1 billion) and increased in the following years, export turnover increased by about 30% per year; in terms of "yarn onwards" origin, there issome flexibility such as importing third-country raw materials to produce textiles and garments for export still enjoy preferential benefits under CPTPP. According to world bank forecasts, Vietnam's textile and garment industry output will reach a record growth rate of 90% by 2020 in terms of CPTPP coming into force. Accordingto this organization, the overall growth rate of the textile and garment industry can reach 41%, corresponding to the increased export value of $ 11.5 billion in 2020. In 2018, seafood exports to the country reached $ 1.39 billion, an increase of 6.4% compared to 2017 (of which shrimp and tuna are the best growth items) and accounted for 15.62% of Vietnam's total seafood exports. Over the years, the proportion of seafood exports to CPTPP countries has always accounted for less than 30% of Vietnam's total seafood exports. After the CPTPP was agreed in March 2018, Vietnam's seafood exporters have initially seen many extreme effects. Japan is committed to abolishing 91%, Canada almost erases 100% tax on all agricultural, aquatic and furniture products in Vietnam. Recently, Japan has abolished import duties on fish and salmon products and opened it to exporters of member countries to participate in this market. Japan also pledged to eliminate tariffs as soon as the agreement came into force for 78% of Vietnam's agricultural exports; the level of commitment reached with Mexico was not much, in which agricultural products taxed about 0% for about 37% of exports In particular, the eight member countries will immediately erase the tax for Vietnamese, Mexican and Chilean rice will erase the tax on Vietnamese rice after 8–10 years, Japan alone does not commit to remove taxes on this goods of Vietnam. The 10 member coffee and raw material was immediately taxed by 10 members when the agreement comes into force, with Mexico keeping its itinerary. Fourthly, joining CPTPP contributes to motivating Vietnamese enterprises to improve their competitiveness, improve the quality of goods and services and promote CPTPP exports towards a level playing field. This creates enormous pressure for Vietnamese enterprises to compete fully equally with large enterprises in more developed markets such as Japan, or Australia, especially in the context of 96% of Vietnamese enterprises being small and super-small enterprises. It can be said that the competitive pressure that CPTPP brings will motivate Vietnamese enterprises to invest in technological innovation, improve productivity, improve the quality of goods and services to survive and fight in competition. Vietnamese enterprises are allowed to purchase imported materials and machinery from CPTPP countries at low costdueto reduced tariffs and other trade barriers. Next, the manufacturing sectors using raw materials, machinery and equipment imported from CPTPP member countries continue to benefit from the reduction of import tariffs in the CPTPP market, through which 815
5. Vietnamese goods can access major markets such as Japan, Australia with reduced production costs and increased competitiveness. In addition, businesses also need to change their business mindset in the new context, taking the pressure on competition as the motivation for innovation and development. CPTPP will provide opportunities for businesses to proactively respond to changes in the business environment brought about by international economic integration through the development and treatment of business plans for the medium and long term to drive the flow of goods into potential partner markets. Fifthly, joining CPTPP contributes to creating opportunities for Vietnamese enterprises to participate more effectively in the global supply chain joining CPTPP will help Vietnam get new supply chain opportunities formed after CPTPP comes into force. CPTPP countries create a free trade bloc with nearly 500 million people and total trade turnover exceeding $ 10,000 billion. Including major markets such as Japan, Canada, Australia will open up a lot of opportunities when new supply chains form. According to Le Quoc Phuong (2013) that many large corporations in the world such as Samsung, Intel, Microsoft, LG has invested strongly in Vietnam with the goal of making our country one of the important points in the production chain of high-tech products such as computer micros, smartphones, items using new technology Therefore, Vietnamese enterprises need to actively seek to cooperate with partner markets to attract strong direct investment in Vietnam to take advantage of capital and technology transfer through large corporations. Therefore, if Vietnam makes timely reforms in economic institutions, business environment and law, while improving the competitiveness of domestic enterprises, Vietnam will benefit greatly from the new wave of investment, creating more jobs, creating new production capacity to take advantage of export opportunities and join the regional and global supply chains brought by CPTPP. Sixthly, joining CPTPP agreement creates conditions for Vietnamese enterprises to change the structure of exports towards increasing value: With the commitment to eliminate all import duties as soon as CPTPP comes into force for the group of goods with a roadmap of 3, 5, 10 years, all member states expect to promote exports as the driving force of economic growth. If Vietnam's exports meet the conditions of origin in CPTPP to enjoy 0% incentives, the total value of Vietnam's exports to CPTPP member countries will increase by 28.4% equivalent to $ 67.9 billion, especially textiles and footwear groups by 45.9% (according to Petri research). In particular, the value of Vietnam's exports to the two major markets of Japan and Malaysia will increase sharply in industries such as textiles, footwear, seafood. Moreover, Japan plays an important role in diversifying the structure of Vietnam's exports towards increasing exports of high-value processed and manufactured goods, reducing the export of raw materials. Joining CPTPP is the best opportunity for Vietnam – Japan to build supply chains for high-tech products, industrial products are the strength of Japan, then join the supply chain of the region and the whole world. 2.2. Challenges for Vietnamese enterprises when joining CPTPP CPTPP brings many opportunities but also poses many challenges for the economy in general and for Vietnamese enterprises in particular. First, the biggest challenge for Vietnamese enterprises is that the State needs institutional reform: For the Government, it is necessary to reform the rules of the game, information, education, training And businesses must enhance understanding to take advantage of CPTPP threats. In particular, it should be understood that enterprises are not only knowledgeable about international rules but also have to grasp information as well as promptly update the corresponding policy changes; improve legal 816
6. capacity, business administration, to protect yourself. In order to prepare to join CPTPP, strong internal reforms are an urgent issue for Vietnamese enterprises. However, in practice, there are still many obstacles and difficulties. In addition, the fact that the adaptability of Vietnamese enterprises is still poor compared to the set standards, outdated technology, production organization, market control of Vietnam has not kept up with member countries Meanwhile, CPTPP sets high requirements and standards for transparency, intellectual property regulations as well as binding and rigorous dispute resolution mechanisms. Not to mention, after CPTPP comes into force, competition will also take place drastically not only in the member countries' markets, but also in the domestic market on all three levels: products, businesses and countries. Secondly, competitive pressure on Vietnamese enterprises will increase and the risk of failure of enterprises in the domestic market: Currently, the competitiveness of Vietnamese exporters still has many limitations: (i) Small scale, large unformal nature, weak technology and management, not high competitiveness; (ii) Lack of proactiveness in information and taking advantage of the great opportunities that international commitments bring; (iii) Lack of creativity, psychological fear of change; (iv) The link between enterprises is limited; (v) Outdated technology level, in-depth growth, application of new technologies, increased labor productivity in enterprises are limited; (vi) Corporate governance capacity is still weak, lacking professionalism. In addition, over the years, the number of enterprises that have been solved, while the number of enterprises registered for establishment tends to decrease. Thirdly, when joining CPTPP, the market for goods and services, investment and government procurement is widening, import tax is reduced by about 0%, there will be significant challenges for Vietnamese enterprises. Pledging to reduce tariffs on the majority of CPTPP partner groups can cause the flow ofimportsto these countries to increase rapidly. The inevitable consequence is that competition will bestronger and the market share of Vietnamese manufacturers at home will be affected. In addition, Vietnamese exporters willalso face a series of commitments in CPTPP onsanitary and epidemiological issues and technical barriers, anti-dumping conditionsin vietnam's important markets with partners such as Japan and Australia. These risks are particularly dangerous for agricultural products, which are associated with the vulnerable in integration, farmers and rural areas. Fourthly, the rules of origin of goods in CPTPP require products exported from one member of CPTPP to another member to have an "in-bloc" origin, not using the raw materials of third countries in addition to CPTPP members are entitled to preferential tax rate of 0% (although there are more flexible mechanisms), but also cause significant difficulties for exporters of Vietnam, especially the garment and footg export industry. However, CPTPP has a more flexible mechanism such as having fewer requirements for origin. Although CPTPP applies regulations on fiber origin, some specific products using imported materials from foreign countries CPTPP can still enjoy preferential tariffs (187 fabrics and fibers not in CPTPP countries can be imported from other countries to produce garments). Major consumer market ssuch as Canada and Australia still have the potential to take advantage of Vietnam's textile and garment growth, with textile and garmentexports reaching $ 10 million per country. Fifthly, CPTPP provides very clear regulations on issues related to intellectual property. Accordingly, CPTPP builds commitments related to the rights of the invention, and creates clear protection for works such as songs, films, books, software, varieties and ask CPTPP members to provide legal tools to prevent violations of trade secrets, and develop criminal penalty procedures for commercial secret theft, including cyber theft. In addition, members are required to provide strong sanctions, including civil procedures, interim measures, border management measures, and criminal 817
7. sanctions for trademark forgery and copyright violations. Despite its participation in the Bern Convention, Vietnam has not yet built effective protection institutions and some cases of intellectual infringement are still very large. Meanwhile, Vietnamese enterprises do not have the necessary knowledge and attention on this issue. Therefore, the strong application of intellectual property protection will cause great difficulties for businesses, creating pressure to increase the costs that constitute the price of the product, reducing the competitiveness of the business. Sixthly, foreign enterprises will be "faster" than Vietnamese enterprises in benefiting from tariff incentives from CPTPP. According to CPTPP regulations, the average import and export tax rate applicable to Vietnamese enterprises exporting to CPTPP markets will be reduced from 1.7% to 0.2%. However, along with the financial advantages, management level, global distribution chain, Vietnamese enterprises will face a challenge, which is that foreign enterprises will be "faster" than Vietnamese enterprises in benefiting from tariff incentives from CPTPP. This is also a huge challenge for Vietnamese enterprises, because, the potential of Vietnamese enterprises is still weak, there is no close connection and mutual contact Joining CPTPP, Vietnam will have to open its doors to goods and services of partner countries in the domestic market, which means that Vietnamese enterprises must compete more fiercely at the home ground. 3. SOME KEY SOLUTIONS TO HELP VIETNAMESE ENTERPRISES TAKE ADVANTAGE OF OPPORTUNITIES AND REDUCE CHALLENGES WHEN JOINING CPTPP Firstly, businesses need to be proactive in understanding information about CPTPP to master the commitment of Vietnam and its interested in partnermarkets, especially information about tariff incentives under this Agreement for Vietnamese goods that are strong or have many export potentials in the future. In addition, businesses need to prepare themselves for a regional and international competitiveness, creative thinking, innovation and business acumen, plan to build capacity, especially in terms of brandor prestige, quality to make good use of the opportunities that CPTPP brings. Secondly, it is necessary to improve the quality of exported goods to meet the requirements of large and potential markets: Enterprises need to actively develop product development strategies in depth of professionalization and enter a separate market segment; Focusing on encouraging enterprises to boldly invest in human resources, machinery and equipment, building raw material areas to improve the value of exports, making a difference for exported goods in the CPTPP regional supply chain, check the quality of exported goods in accordance with international standards so that businesses take that as the goal towards in the production and business process. Thirdly, the competitiveness of each enterprise is the deciding factor for the success of the business in CPTPP: To survive and develop, it is important for businesses to improve the competitiveness of their enterprises to be able to compete with foreign enterprises in the domestic market as well as in the market of the partner country. Enterprises also need to actively improve their competitiveness, actively participate in world trade and supply chains in theregion, take full advantage of the agreement. Fourthly, strengthen the capacity of business owners, directors and managers in enterprises in business administration, strategic management, regularly update new knowledge, skills necessary to be competitive in the market and access to the knowledge economy. Currently, Vietnamese enterprises are mostly enterprises of small size, capital, business owners with education level, business knowledge, legal understanding is not high, the level of skills of workersis low to 818
8. implement competitive business strategy, it is necessary to implement the motto of linking and cooperation to improve product quality, improve competitiveness in the market. Many sectors of Vietnamese enterprises can not compete with foreign enterprises, because they have a wealth of experience, financial potential, brand, prestige Therefore, Vietnamese enterprises instead of directly confronting in the big markets, choose niche markets, small markets with the strategy of "blue ocean" – exploring the market segment can be narrow but new and not competitors. Businesses need to take advantage of direct orders from CPTPP partners and also indirect orders to other partners who want to take advantage of tariff opportunities in CPTPP. 4. PROPOSE TO THE STATE TO HELP VIETNAMESE ENTERPRISES PARTICIPATE IN CPTPP IN THE CURRENT SITUATION Firstly, the State should increase investment in building and developing information systems on the goods market due to the impact of CPTPP. In the context of globalization and deepening international integration, the economic situation in the country and the world has many fluctuations, prices of goods are always changing very difficult to predict. Therefore, in terms of CPTPP implementation, member states will have legal, commercial, Inorder to proactively address these changes, the State needs to provid eadequate, timely information and accurately forecast market developments to help exporters have appropriate solutions to take advantage of opportunities and overcome difficulties. The State should increase investment in building statistical information systems, analyzing and forecasting prices and supply and demand of goods to limit unnecessary risks for exporters to CPTPP countries. At present, it is necessary to have more complete and in-depth exchanges and dialogues between enterprises, associations and ministries and governments. The information is not only about CPTPP, Vietnamese FTA participation and integration, but also about the current policies and reforms as well as the necessary changes inthe future. Secondly, promoting the development of supporting industries: In order to exploit the benefits of CPTPP in the export sector, Vietnam needs to build and develop supporting industries, including: (i) Industry supporting the manufacturing industry; (ii) The industry supports the manufacturing and assembly industries; (iii) Chemical industry uses advanced technology, high technology, prioritizes investment in the development of chemical products and pharmaceutical chemicals, bleach, paints, rubber products serving directly for other industries and participates in export; (iv) The industry produces fibers, yarns and dyeing textiles, producing accessories for the production of leather products to provide direct input to the two garment and footwear industries in the locality; (v) The industry supports agricultural production, including fertilizer production, pesticides and animal feed. Thirdly, it is necessary to improve the efficiency of promotion activities to attract direct investment from CPTPP countries in areas where Vietnam has export advantages, such as textiles, footwear, furniture, agricultural products In order to attract investment from multinational corporations in terms of CPTPP implementation, the State needs to develop a national strategy onpromoting investment in the field of export promotion. Focus on promoting and selecting investment projects towards high-tech application, sustainable development, especially those for productivity, high quality, using modern technology, environmentally friendly Thus, it can be seen that CPTPP brings many opportunities as well as many challenges for Vietnamese enterprises, the problem is that Vietnamese enterprises need to identify those opportunities and challenges in order to provide a solution system for each model of operation of their business accordingly to promote rapid, solid and effective development in the context of CPTPP integration today. 819
9. REFERENCES 1. Topic: CPTPP: Opportunities and Challenges for Vietnam – Financial Magazine (tapchitaichinh.vn) in March 2018. 2. Dispatch No. 696/BCT–DB on 5/2/2020 of the Ministry of Industry and Trade on the results of implementation of CPTPP agreement of ministries, sectors and localities in 2019. 3. CPTPP and its impact on import and export, Communist Magazine (April 2018). 4. Eurasia Group (2015), The Trans–Pacific Parnership: Sizing up the Stakes – A Political Updade, New York: Eurasia Group. 5. Comprehensive and Progressive Agreement for Trans–Pacific Partnership (CPTPP), Ministry of Industry and Trade website – moit.gov.vn. 6. Vietnam Post Bank, Assessing the impacts of CPTPP on some economic sectors of Vietnam (April 2018). 7. Peter A. Petri & Partner (2012), Trans–Pacific Partnership and Asia-Pacific Integration: A Dosing Review. 820