U.S. Ambassador to Vietnam Ted Osius. (Source: vtc.vn)
“With this monumental achievement, the United States and Vietnam are poised to become partners in a trading block that represents nearly 40% of global GDP. TPP
is an ambitious, comprehensive, high standard and balanced trade agreement”.
“It represents another important step forward to strengthen the economic ties between our two countries and further deepen our bilateral relationship in this, its hallmark 20th year of normalized bilateral relations”, the ambassador said in a media release.
“We look forward to working with our partners in Vietnam and the other TPP member countries to implement this historic agreement. This agreement has the power to support jobs, create new opportunities, promote a fair global economic system, and transform the lives of hundreds of millions of individuals to ensure continued peace and stability in a fast changing world”.
Vietnam is said to be the largest beneficiary from the TPP. Vietnam’s exports will be 28.4% higher in by 2025 than without TPP, and Vietnam’s GDP would be 10.5% higher, Herb Cochran, executive director of AmCham Vietnam in Ho Chi Minh City said, citing economic models.