'Vietnam needs unity in action to benefit from TPP'

18 Feb '16

2 min read

Vietnam cannot fully capitalise on the newly signed free trade agreement, the Transpacific Partnership Pact (TPP) unless all the stakeholders – the government, the people and the enterprises work in unison, according to the prime minister Nguyen Tan Dung.

In the translated version of the article, 'TPP, Opportunities and Challenges – Our Action' written by Dung and posted on a Vietnamese government website, the PM said that the ruling party, the people and the business community should maintain unity in action to make the full utilisation of opportunities from the pact.

The role and actions of the stakeholders should be properly defined. They should together try to overcome challenges and improve efficiencies – which have become a priority, and thereby bring a proud moment for the country, according to Dung.

Businesses are a vital force in deciding. But a clear institutional framework and business environment is necessary, which is possible only with the help of the state. The market or the people contribute with ideas, comments and supervision of the implementation of policies.

Communication between the three should also be carried out well for awareness consensus and unity in action. Joining of hands of the stakeholders will bring the opportunities into full play.

The TPP pact holds immense potential, but there are also challenges in the way, he added. (MCJ)

Fibre2Fashion News Desk – India

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