Vietnam'S Exports Increased By 8.3% In The First Year Of The CPTPP Agreement

The Central Economic Management Research Institute of Vietnam held a seminar on effective implementation of the trans Pacific Partnership comprehensive progress agreement (CPTPP): requirements for improving the system and improving the capabilities of Vietnamese enterprises in February 19th (2020). Ruan Yingyang, director of the comprehensive research office of the Institute, said at the meeting that the CPTPP agreement has made positive contributions to Vietnam's economic and trade activities. In 2019, the first year of the implementation of the CPTPP agreement, Vietnam's exports to 6 countries that had ratified the above agreements amounted to US $34 billion 400 million, an increase of 8.3%, while the import amount was 3 billion US dollars, a small increase of 1%.

Director Ruan Yingyang pointed out that Vietnam has export competitive advantages in leather shoes, Taketo products, coffee and textile garments traditional products, but Vietnam has a high similarity in export structure with Vietnam, ASEAN, China, regional comprehensive economic partnership agreement (RCEP) and CPTPP.

In terms of investment, Vietnam's foreign direct investment (FDI) activities continued to develop steadily. Between 2010 and 2019, Vietnam's FDI merchants grew by 12.4% annually, registered capital increased by 5.1% and financing increased by 7.4%. The implementation scale of FDI continued to record high, reaching 20 billion 400 million US dollars in 2019.