09:38 | 18/12/2018 Cooperation
The Vietnam Trade Office partnered with the Wellington Chamber of Commerce and the ASEAN-New Zealand Business Council to run the Vietnam-New Zealand Free Trade Breakfast last week, discussing various trade issues.
The event gathered representatives from enterprises in Wellington and Auckland doing business in or have business transactions with Vietnam together with local trade promotion agencies.
It provided an opportunity to network and hear directly from key figures in Vietnam and New Zealand to gain a better understanding of the benefits of the two countries’ trade relations, particularly as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is about to enter into force.
Speaking at the event, Vietnamese Ambassador to New Zealand Ta Van Thong gave the attendees an overview of Vietnam’s economy, its CPTPP commitments relating to the domestic business environment, and support services the Vietnam Trade Office offers to New Zealand companies. He also talked about trade relations between the two nations.
CPTPP Chief Negotiator for New Zealand Michelle Slade presented the structure of the CPTPP and benefits of the agreement in terms of trade and services, investment, government procurement and others.
She further detailed on what the Government of New Zealand has done to implement the CPTPP and how the trade deal is beneficial to Vietnam.
New Zealand businesses shared their practices in gaining access and doing business in Vietnam, as well as their plans to make use of the CPTPP.
The Victoria University of Wellington shared its experience in market positioning and cooperation in education with Vietnam’s representative, while the New Zealand Trade Center talked about their experience in expanding the beverage and fruit market in Vietnam and developing partnership to provide the country with advanced technology in food origin traceability.
Vietnam and New Zealand were among the 11 CPTPP member states alongside Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, and Singapore. It was signed in Chile in March and is expected to be effective this month.
The CPTPP is one of the most comprehensive trade deals ever concluded and strips 98 percent of tariffs for 11 countries with a combined GDP of more than 13.8 trillion USD and close to 500 million consumers.