President of the Commerce and Industrial Development Commission of the Senate Hector Larios (Source: Alchetron) Mexico (VNA) – The Mexican Senate is sitting to consider making a decision whether to pass the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) within the tenure or not, a senator has said. The term of the current Mexican Senate, known as the 63rd Legislature, will end on April 30, and the new term will begin on September 1. According to President of the Commerce and Industrial Development Commission of the Senate Hector Larios, senators and representatives from industrial sectors analyse possible measures to address challenges faced by the country’s textiles and footwear sectors, as well as those in negotiating bilateral agreements with its partners who are CPTPP members. According to Mexico’s Ministry of Economy, CPTPP would help increase the country’s export turnover by 6.7 … [Read more...] about Mexican Senate considers approving CPTPP
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US wish to rejoin to cause turmoil within CPTPP?
US President Donald Trump signing the ordinance to withdraw the US from the TPP Comparing the multi-country trade agreement to a glasswork, Yoshihide Suga, Japan’s Chief Cabinet Secretary cautioned against any efforts to change it to accommodate President Trump. He told New York Times: “It is difficult to bring part of the pact and re-negotiate the CPTPP,” and called it a “well-balanced pact” that carefully addressed the needs of the current eleven member countries. Taro Aso, Japanese Minister of Finance, said he would welcome a decision by the US to explore rejoining the CPTPP. “If it is true, I would welcome it.” But he added that he needed to verify facts carefully. “Trump is a person who could change temperamentally, so he may say something different the next day,” Reuters reported. New Zealand’s Trade Minister David Parker questioned how real the engagement was, given similar comments of President Trump in Davos. … [Read more...] about US wish to rejoin to cause turmoil within CPTPP?
Minister of Industry and Trade: CPTPP’s promises and perils
(VEN) - On March 9, 11 Asia-Pacific nations including Vietnam signed a landmark trade agreement in Chile. Vietnam Economic News’ Thu Hang & Nhat Quang interviewed Minister of Industry and Trade Tran Tuan Anh about the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP). Could you indicate the CPTPP’s expected benefits for the Vietnamese economy? Which sectors will benefit most from the trade deal? The CPTPP will have positive impacts on a relatively comprehensive range of fields. However, like any integration frameworks, it will have both positive and adverse impacts. The extent of the CPTPP benefit for the Vietnamese economy depends on actual conditions and how Vietnam implements its integration and reform commitments to achieve sustainable growth and added value for the economy. Like other CPTPP member countries, Vietnam is committed not only to opening its domestic market, removing tariff barriers and further facilitating trade, but also … [Read more...] about Minister of Industry and Trade: CPTPP’s promises and perils
Japan ready to host CPTPP chief negotiators’ meeting
Minister in charge of the CPTPP Toshimitsu Motegi said the meeting will confirm the progress in each member country's ratification in order to bring the pact into force while discussing responses to other nations and regions interested in joining the framework.A port in Tokyo (Source: VNA)Japan and the 10 other member countries aim to put the pact into force by the end of this year.The 11 CPTPP economies with a combined population of about 500 million make up about 13 percent of the global GDP. The agreement will enter into force 60 days after it is fully ratified by six of the 11 members.Minister Motegi said he believes brining the pact into effect is a top priority of the 11 members, while emphasising the possibility of additional partners joining the agreement.The 11 members of the CPTPP, officially inked in Chile on March 8th, 2018, are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.Some other countries such as the Republic of … [Read more...] about Japan ready to host CPTPP chief negotiators’ meeting
High quality workforce: a hot issue before CPTPP
Representatives from the Ministry of Labour, Invalids and Social Affairs, the World Bank, as well as a number of domestic and foreign-invested enterprises (FIEs) will attend a workshop on April 5 to discuss potential applications of IT in human resources training ahead of the enforcement of the Comprehensive and Progressive Pacific Partnership (CPTPP). The CPTPP is expected to boost foreign investment in Vietnam by a great deal Held by Cloud Learning System (Huong Viet Group) and the Vietnam Chamber of Commerce and Industry (VCCI), the event aims to help domestic and foreign-invested enterprises (FIEs) approach new solution to ease their thirst for high-quality workforce to facilitate their future business operations in Vietnam after the CPTPP. Top issues under discussions will be quality of human resources, and measures to help domestic and FIEs to improve manpower training quality, including rhe application of technology. The chronic lack of high-quality workforce has been … [Read more...] about High quality workforce: a hot issue before CPTPP