Vietnam and Japan will cooperate to pursuit TPP

Two sides have reaffirmed their determination to foster the deal via joint statement on Vietnam-Japan extensive strategic partnership.

“Against the backdrop of mounting anti-globalization and protectionism in the world, both leaders reiterated the matters relating to free trade and protectionism as stated in the G7 Leaders’ Communiqué in May 2017 and the 2016 APEC Leaders’ Declaration and reaffirmed that free and fair trade and investment are an important driver for the global economy and decided to work together in promoting open and free trade and investment. They are determined to promote discussion on the Regional Comprehensive Economic Partnership (RCEP) with the aim to promptly reach a modern, comprehensive, high-quality and mutually beneficial agreement under ASEAN leadership. They recognised that RCEP’s market access commitments, rules, and cooperation will deepen regional economic integration and promote supply chain growth. They reaffirmed the balanced outcome and the strategic and economic importance of Trans Pacific Partnership (TPP), not only to its members but also to the Asia-Pacific. On that basis, both leaders shared the view to cooperate in the discussion among TPP members to bring the comprehensive, high-quality Agreement into force expeditiously”, said the statement.
After U.S. President Donald Trump pulled out of the 12-nation pact, Japan has been exploring options to revive the pact without the United States, hoping it can eventually convince Trump to reconsider.
Negotiators from the remaining 11 members, including Vietnam have sought ways to resuscitate talks and deepen economic ties without a United States that appears increasingly suspicious of multilateral deals.
The agreement is due to come into force next year.