Trans-Pacific Partnership (TPP) – Vietnam
GDP ($ billions): 205.2
GDP per capita ($): 2,264
GDP growth rate (%): 6.0
Consumers (millions): 90.6
Vietnam’s Main Imports (from the world): Electric machinery; machinery and mechanical appliances/parts; mineral fuel/oil; plastics and articles thereof; iron and steel
Canada's merchandise exports to Vietnam (2012−2014 annual average) (value in millions of Canadian dollars)
- Agriculture and Agri-food (123.5)
- Fish and Seafood Products (76.9)
- Forestry Products (11.7)
- Fertilizer Products (67.7)
- Other Industrial Products (143.3)
Vietnam is among the most rapidly emerging economies in Southeast Asia. From 2012 to 2014, Canada exported an annual average of $423 million worth of merchandise to Vietnam.
Preferential Access to Vietnam in Areas of Key interest to Canada:
Fish and Seafood: Canada’s exports to Vietnam totalled $76.9 million (2012−14 average). Key products: frozen halibut; frozen mackerel; frozen fish livers and roes.
Wood and Other Forestry Products: Canada’s exports to Vietnam totalled $11.7 million (2012−14 average). Key products: particle board; oriented strand board; electrical grade insulating kraft paper.
Agriculture: Canada’s exports to Vietnam totalled $123.5 million (2012−14 average). Key products: common wheat; flax; and pork.
Industrial: Canada’s exports to Vietnam totalled $210.9 million (2012−14 average). Key products: telephone equipment; fairground amusements; certain moulds for rubber or plastics.
The TPP will provide Canada’s service suppliers with greater transparency and more predictable access in Vietnam, including in key sectors such as environmental services and business services.
With regard to the temporary entry of business persons, new commitments will make it easier for Canadian businesses to temporarily move certain categories of business persons to Vietnam. These new commitments include enhanced access for Canadian investors.
The TPP will also set a strong regional standard for intellectual property (IP) protection and enforcement, including a range of disciplines new to Vietnam’s domestic regime.
The Agreement also promotes strong protection of labour and environment in the TPP region through robust labour and environment chapters that are subject to dispute settlement.
Such provisions will help ensure that TPP competitors do not gain a trade advantage by failing to adopt and enforce labour and environment standards.
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