17:26 | 07/11/2015 Global Economy
The full English text of the Trans-Pacific Partnership (TPP), a trade pact that involves 12 countries across the Pacific region and 40% of global GDP, has been released online one month after negotiations were concluded.
The Ministry of Industry and Trade said according to international practice, a trade agreement is only published after the legal review process has been completed, but the TPP manuscript has been released earlier than usual due to the great demand of the public to learn of the extensive agreement.
The TPP is undergoing legal reviews in each member country so the final text may be slightly different from the version published on November 5; however the changes will be purely technical and will not affect the commitments in the agreement.
In addition to the TPP agreement, Vietnam has also agreed on numerous side instruments with a number of other TPP countries on various issues, which will come into force at the same time with the effective date of the TPP.
After the text is released, the public will have a period of between 60 and 90 days, depending on the specific laws of each country to review the agreement, before it is officially signed.
The signing date is yet to be determined but is expected to be no later than the end of next year’s first quarter. Following the official signing, the TPP members will begin the process of approving the agreement in line with their respective laws.
The full texts of the TPP and Vietnam’s side agreements with other TPP members are available on http://tpp.moit.gov.vn./.