US Assistant Secretary of State: ‘Vietnam will grow impressively with TPP’

US Assistant Secretary of State: 'Vietnam will grow impressively with TPP' 4
US Assistant Secretary of State: 'Vietnam will grow impressively with TPP' 4

Present in Ho Chi Minh City on the afternoon of May 29, Mr. Charles H. Rivkin shared with the press about Vietnam – US bilateral economic relations, policies, initiatives as well as trade of the world’s largest economy with

`President Obama aims to complete the TPP during his time in office. I cannot give a specific date for signing this agreement, but the negotiation process is progressing positively and we hope to be able to reach the finish line soon.

Mr. Charles H. Rivkin said that the US wants to see Vietnam strong, independent, prosperous, respecting human rights and the rule of law.

One of the reasons the US wants to promote this trade agreement, according to Mr. Rivkin’s explanation, is because Asia (including Vietnam) has more than 550 million consumers and can increase to 2.7 billion people.

US Assistant Secretary of State in charge of economics and trade Charles H. Rivkin believes that Vietnam will grow dramatically when joining TPP with an increasingly strong investment wave.

The US Assistant Secretary of State analyzed that when investing in any market, businesses want three things: transparency, high predictability and the spirit of respect for the law.

TPP also creates many changes for industries, Mr. Charles H. Rivkin added.

Among the group of 12 countries negotiating TPP, the US is the world’s largest single market with more than 28,000 small and medium enterprises (SMEs).

The removal of non-tariff barriers will greatly impact the SME business group in the US.

Mr. Charles H. Rivkin further revealed that in the process of meeting and interacting with American chambers of commerce in many places, he has not seen anywhere as exciting as in Hanoi and Ho Chi Minh City.

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