Vietnam to join TPP talks

Vietnam to join TPP talks    Vietnam said over the weekend it plans to join a burgeoning trade agreement linking countries in North America, South America, Asia and Oceania.
   Vietnam committed to joining the Trans-Pacific Partnership (TPP) agreement at a meeting of Asia Pacific Economic Cooperation (APEC) leaders in Yokohama over the weekend. In early October, Malaysia announced its intent to join the talks.
   Current TPP members are Singapore, Brunei, Chile and New Zealand, while Australia, Peru, the United States, Malaysia and now Vietnam are in negotiations to join. The agreement seeks to reduce tariffs between participating nations by 90 percent initially and 100 percent by 2015.
   Vietnam's intent to join the TPP was welcomed by the Washington, D.C.-based National Foreign Trade Council (NFTC).

Reinsch

   'The addition of Vietnam and Malaysia will further the advancement of transpacific economic integration and expand U.S. economic engagement in the Asia-Pacific region,' said NFTC President Bill Reinsch. 'The TPP agreement, once fully negotiated and implemented, has the potential to significantly boost the U.S. economy and help achieve the goals of the administration's National Export Initiative — increased U.S. exports and American jobs.'
   NFTC Vice President for Regional Trade Initiatives Chuck Dittrich added: 'With so many dynamic economies represented at the negotiating table, the TPP agreement could become the cornerstone of a new, more robust economic and commercial relationship between the United States and the Asia-Pacific region. Malaysia is one of the top 25 largest export markets for U.S. goods and services, and Vietnam is one of the top 50, so we are very pleased with today's announcement.'
   Many see the agreement as a way for established and emerging economies across the Pacific to neutralize China's economic influence. ' Eric Johnson