With TPP, Vietnam Will Enjoy Broader Ties with U.S., Says Obama

Tuan Minh

14:08 24/05/2016

BizLIVE - U.S. President Barack Obama emphasized the benefits of the landmark TPP for Vietnam.

With TPP, Vietnam Will Enjoy Broader Ties with U.S., Says Obama

U.S. President Barack Obama delivers a speech at the National Convention Center in Hanoi on May 24, 2016. (Photo: screenshot)

With the Trans-Pacific Partnership (TPP), Vietnam will be less dependent on any one trading partner and enjoy broader ties with other partners, including the U.S., President Barack Obama said during his remarks in Hanoi on Tuesday.
“We’ll keep working to unleash the full potential of your economy with the Trans-Pacific Partnership. Here in Vietnam, TPP will let you sell more your products to the world and attract new investment,” he said.  
He noted that TPP will require reforms to protect workers, rule of law and intellectual property. “And the U.S. is ready to assist Vietnam as it works to fully implement its commitments.”
He pointed out that Vietnam has achieved enormous progress over the last two decades.
“Today the world can see the strides that you have made. With economic reforms and trade agreements, including with the United States, you have entered the global economy, selling your goods around the world,” he said.  
With one of the fastest-growing economies in Asia, Vietnam has moved up to become a middle-income nation and more foreign investors are coming in. “We see Vietnam’s progress in the skyscrapers, high-rises in Hanoi and Ho Chi Minh City, new shopping malls in urban centers,” he said.
Vietnam has dramatically reduced extreme poverty, boosted family incomes and lifted millions into fast-growing middle class.
“Now we can say something that was once imaginable. Today Vietnam and the U.S. are partners,” the president stressed.
“I want you to know that the United States will be right there with you as your partner and as your friend,” Barack Obama said.