Vietnam would be the biggest beneficiary of the Trans-Pacific Partnership (TPP) among the deal’s 12 members and in the next decades, the country’s agriculture industry would grow by 11 percent with exports jumping by 28 percent, the newspaper said.
As the world’s second largest rice exporter after Thailand, Vietnam saw a rise of 25 percent in rice production during 2000-2014 thanks to the expansion in rice growing areas in the Mekong Delta as well as the practice of multiple cropping, it reported.
The country has been deeply integrated into the global economy through a network of free trade agreements with 40 countries, which now culminates with the TPP, the article added.
Vietnam joined the World Trade Organisation (WTO) in 2007 and two years later, the nation saw a trade surplus in agricultural exports to the United States for the first time in its history, the newspaper said, noting that its agricultural exports expanded from 6 billion USD to 13 billion USD between 2007 and 2011.
Clarin forecast that the TPP not only benefits the country with the reduction or elimination of tariffs from other members but also the inflows of foreign direct investment, particularly from China in textile-garment and sports equipment industries.
VNA/VNP
