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Minister Nguyen Hong Dien joins 5th CPTPP Commission Meeting

The 5th Commission meeting of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) was held virtually at 07:15 on September 1, 2021 (Vietnam time) under the chairmanship of Japan's Economic Recovery Minister Nishimura Yasutoshi with the participation of Ministers and Senior Officials from Australia, Brunei, Canada, Chile, Malaysia, Japan, Mexico, New Zealand, Peru, Singapore and Vietnam to review the implementation of the CPTPP.

The Vietnamese delegation, led by Minister of Industry and Trade Nguyen Hong Dien, included representatives of the Ministries of Industry and Trade, Foreign Affairs, Information and Communications, Justice, Finance, Agriculture and Rural Development, Labor - Invalids and Social Affairs, Natural Resources and Environment, Planning and Investment, and the State Bank of Viet Nam.

At the meeting, the Ministers listened to reports on the work of the Committees, Commission and Technical Working Groups of the Agreement as well as the cooperation status among CPTPP countries in the implementing various initiatives to promote the implementation of the CPTPP. The Ministers affirmed that due to the complicated development of the COVID-19 pandemic, the CPTPP has been and continues to make positive contributions to the economic and trade recovery process, helping to maintain and enhance the resilience of global supply chains which have been severely affected by the pandemic.

In addition, the Ministers also affirmed to maintain and strengthen the multilateral trading system with a focus on the World Trade Organization (WTO), and pledged to work closely with other WTO members to achieved successful results at the upcoming 12th WTO Ministerial Conference.

The Ministers discussed the expansion of the CPTPP Agreement, especially the accession of the United Kingdom. The Ministers noted the results achieved to date and agreed to continue working closely with the UK to prepare for the first session of the Working Group on its accession.

The Ministers expect the UK to be ready to fully comply with all CPTPP commitments and consider that the completion of this accession process will create more opportunities to promote the Agreement as a role model for the process of trade liberalization in the region and in the world. In addition, the Ministers also emphasized that any economy that is ready to meet the high standards and ambitious market opening commitments of the CPTPP is welcomed.

Also at the meeting, the Ministers congratulated the CPTPP Agreement officially entering into effect for Peru on September 19, 2021, and hoped that the remaining 03 countries that have not yet ratified, which are Brunei, Malaysia and Chile, will quickly complete procedures for the Agreement to take effect for all 11 members.

At the end of the meeting, the Ministers approved the Decision of the CPTPP Commission on the establishment of the E-Commerce Committee and the Ministerial Joint Statement.

The Vietnamese delegation actively participated and made important remarks, which were recognized and appreciated by other countries, contributing to the overall successful results of the meeting.

It is expected that the 6th Commission meeting will be held in mid-2022 and under the chairmainship of Singapore.


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