Vietnam attends first meeting of CPTPP Commission

• Exports to CPTPP economies approaching US$37 billion
• CPTPP provides driver of institutional reform
• Local firms prepare for CPTPP’s strict regulations

Vietnamese Minister of Industry and Trade Tran Tuan Anh attends first meeting of CPTPP Commission in Tokyo (Source: VNA)

At the meeting, the ministers adopted a joint statement affirming the determination to fully enforce the CPTPP in support of trade liberalization, setting high and fair standards for trading activities in the 21st century as well as fostering economic growth and bringing about benefits to both people and enterprises. 

They also approved four important decisions, covering the CPTPP Commission’s operation mechanism; the process, procedures and conditions for consideration and admission of new members; the process and procedures of the arbitral tribunal related to state-to-state settlement of disputes; and a code of conduct for arbitrators related to the settlement of disputes between an investor and a state.

In an interview granted to Vietnam News Agency (VNA) correspondents in Tokyo, Minister Tran Tuan Anh said that commitments are being implemented in an active, serious and full manner in the initial phase thanks to thorough preparations of the member states. He voiced his belief that they will enforce the agreement effectively to bring about practical benefits to both people and enterprises.