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Vietnam becomes seventh country to ratify revamped Trans-Pacific Partnership; Brunei, Chile, Malaysia and Peru yet to sign deal

Hanoi: Vietnam’s National Assembly, the country’s lawmaking body, on Monday unanimously ratified a landmark 11-country deal that will slash tariffs across much of the Asia-Pacific.

Tourists walk past Vietnam's National Assembly (Parliament) building in Hanoi. Reuters

Tourists walk past Vietnam's National Assembly (Parliament) building in Hanoi. Reuters

Hundred percent of the voters voted for the ratification of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), making Vietnam the seventh country to have passed it, the National Assembly said in a statement.

Australia, Canada, Japan, Mexico, New Zealand and Singapore had formally ratified CPTPP earlier. The original 12-member deal was thrown into limbo early last year when US President Donald Trump withdrew from the agreement to prioritize protecting US jobs.

Brunei, Chile, Malaysia and Peru are the four remaining member nations that are yet to ratify the pact.


Updated Date: Nov 12, 2018 15:23 PM

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