Taking advantage of Pacific Rim trade deal
Vu Hong Anh, Deputy Director of the Ministry of Industry and Trade’s European-American Market Department said Vietnam's exports to a number of CPTPP markets have skyrocketed. Exports to Canada, for example, reached US$5.3 billion in 2021, up 20.8 percent from 2020 and 75 percent compared to the pre-agreement trade, while sales to Mexico hit US$4.6 billion in 2021, more than double compared to the pre-agreement trade, she said.
![]() |
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), tra fish exports to CPTPP countries grew 123 percent to reach US$31 million in July 2022. In the first seven months of this year, CPTPP markets accounted for US$211.4 million or more than 13 percent of Vietnam's tra fish export value, up 73 percent from the same period in 2021.
According to the VASEP, while the export of seafood in general and tra fish in particular is usually affected by currency changes and high freight rates, sales to CPTPP markets are less affected by those challenges. The zero percent import tax under the agreement and consumers’ switch to affordable fish such as tra fish have helped Vietnam’s tra fish exports to CPTPP countries maintain growth.
![]() |
However, despite the near zeroing of most import tariffs, Vietnam's exports to CPTPP markets face challenges, including long geographical distance, high transportation costs, long transport duration, and high standards of CPTPP countries. Minimization of logistics costs and providing CPTPP importers with information about Vietnamese goods and enterprises are important to increase exports to these markets.
Although it has improved, Vietnamese product quality often falls short of discerning markets’ standards. Vietnamese enterprises need to focus on improving production technology and product quality, and diversifying product design and packaging to better meet the needs of CPTPP markets.
![]() |
CPTPP is the first new-generation FTA to be implemented in the 21st century. The 11 signatory countries are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. The agreement is expected to offer Vietnam great opportunities not only to increase export value, but also to join the global supply chain and improve its institutions. |
See also

73rd anniversary of Việt Nam-Russia diplomatic ties marked
11:00 | 01/02/2023 Vietnam and EU

Lao mission in Geneva joins Vietnamese counterparts on Lunar New Year festival
07:04 | 30/01/2023 Vietnam and ASEAN

Hong Kong pioneers a sustainable future for an 'Asian century'
06:01 | 23/01/2023 Cooperation

How can green trade with EU benefit Vietnam?
06:00 | 12/01/2023 Foreign trade

Strong partnership and cooperation moving forward
06:00 | 11/01/2023 Vietnam and EU

Rosy prospects for Vietnam-Argentina trade
06:00 | 04/01/2023 Vietnam and other regions
See more news

Expanded trade opportunities with US
06:00 | 31/12/2022 Vietnam and other regions

Efforts underway to boost trade with UK
06:00 | 29/12/2022 Vietnam and other regions

Potential remains for Vietnam’s exports to EU
10:49 | 28/12/2022 Vietnam and EU

FTAs boost Vietnam-Latin America trade
06:00 | 27/12/2022 Vietnam and other regions

Key milestones in Vietnam-Indonesia strategic partnership
13:09 | 24/12/2022 Infographic

EVFTA: Opportunities and challenges
06:00 | 19/12/2022 Vietnam and EU

Saskatchewan enhances cooperation with Vietnam
16:14 | 16/12/2022 Vietnam and other regions

Key timelines of ASEAN-EU diplomatic ties
13:00 | 14/12/2022 Vietnam and EU

Vietnam, Philippines boost economic cooperation
06:00 | 14/12/2022 Vietnam and other regions

Business awareness of EVFTA advantages grows
06:00 | 05/12/2022 Vietnam and EU

Prime Minister demands faster disbursement of public investment capital
17:29 | 03/02/2023 Policy

Trade ministry to support enterprises in boosting exports
13:19 | 03/02/2023 Foreign trade

Food and beverage industry to do well this year despite modest economy
13:00 | 03/02/2023 Industry

Leaders pay tribute to President Ho Chi Minh on Party’s founding anniversary
11:57 | 03/02/2023 News and Events

Hunting for real estate investment opportunities after Tet
09:32 | 03/02/2023 Property
Multimedia

Calligraphy for the new year
03/02/2023 20:00 Video

The joy of Tết for Mông people
30/01/2023 08:02 Video

My Phong Nha
02/03/2022 18:00 Video

Fireworks show to welcome the New Year 2023 in HCMC
06/01/2023 16:47 Video

Vietnam – Potential destination for Italian businesses
15/10/2018 11:09 Video

Prime Minister demands faster disbursement of public investment capital
17:29 | 03/02/2023 Policy

Deputy FM highlights role of economic diplomacy in service of national development
11:05 | 01/02/2023 Policy

Việt Nam supports expansion of UN Security Council
06:00 | 30/01/2023 Policy

Prime Minister assigns tasks to Deputy Prime Ministers
07:00 | 17/01/2023 Policy

Food and beverage industry to do well this year despite modest economy
13:00 | 03/02/2023 Industry

Moving ahead with 2023’s Global Priorities: Electrification and Decarbonization
15:05 | 02/02/2023 Industry

Hanoi eyes 950 firms in support industries this year
06:00 | 02/02/2023 Support industries

Vietnam to reduce environmental impact of textile-garment industry by 2030
06:00 | 01/02/2023 Industry

Greening foreign investment
06:00 | 03/02/2023 FDI

Southeast region prepares for new FDI wave
09:18 | 02/02/2023 FDI

January FDI nears US$1.7 billion
14:46 | 31/01/2023 FDI

Viet Nam calls for more investment in green growth
16:52 | 22/01/2023 FDI

Tax revenue up 4.4 percent year-on-year in January
08:40 | 03/02/2023 Finance-Banking

State-owned banks under capital increase pressure
10:52 | 01/02/2023 Finance-Banking

Positive prospects for Vietnam’s stock market this year
14:48 | 31/01/2023 Stock Market

Positive 2023 securities market forecasts
06:00 | 20/01/2023 Stock Market

Vietnam looks ahead to 2023 climate summit
06:00 | 25/12/2022 Environment

Preserving nature, facilitating business
06:00 | 10/12/2022 Environment

AkzoNobel Vietnam protects Cu Lao Xanh lighthouse against harsh weather
11:40 | 24/11/2022 Environment

JTI Vietnam commits to net zero greenhouse gas emissions
16:25 | 15/11/2022 Environment

Managed security provides IT talent gap solution for businesses in SEA
16:34 | 30/01/2023 Information technology

Headquarters of Vietnam-Korea Institute of Science and Technology inaugurated
09:23 | 30/01/2023 Science - Technology

WHO to share mRNA vaccine technology with VietNam
09:14 | 30/01/2023 Science - Technology

Welcoming the year of digital data for Vietnam
16:57 | 22/01/2023 Digitalization

Hunting for real estate investment opportunities after Tet
09:32 | 03/02/2023 Property

Vietnamese university up 97 places in Webometrics ranking
10:00 | 02/02/2023 Society

PM inspects national key transport projects
09:36 | 31/01/2023 Society

A great chance to invest in commercial property
10:46 | 30/01/2023 Property

Nestlé Vietnam and the journey to sustainable development
13:00 | 10/01/2023 Companies

VIMC embarks on strong recovery
06:00 | 10/01/2023 Companies

MM Mega Market launches a new modern Giá tốt business model
16:18 | 30/12/2022 Vietnamese Brands

PVCFC develops experts’ system
08:00 | 25/12/2022 Vietnamese Brands

Khmer's ginger cake of love and faithfulness
09:00 | 03/02/2023 Photo

Dutch diplomat donates Vietnamese paintings to national museum
06:00 | 01/02/2023 Lifestyle

Tet impressive in foreign ambassadors' eyes
14:49 | 30/01/2023 Lifestyle

Norwegian Ambassador experiences Vietnamese Tet traditions
06:00 | 28/01/2023 Lifestyle

Five-day holiday for workers during Reunification Day period
06:00 | 03/02/2023 Tourism

Vietnam plans to attract Chinese tourists
07:00 | 01/02/2023 Tourism

The lure of Pu Luong
06:00 | 31/01/2023 Entertainment

Tourism is back, big time
06:00 | 30/01/2023 Tourism