US urges Vietnam to meet international standards for TPP

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US urges Vietnam to meet international standards for TPP

The US asked Vietnam to comply with the international regulations on intellectual property, the environment and labour, which would facilitate the timely conclusion of the Trans-Pacific Partnership, visiting Trade Representative Michael Froman told President Truong Tan Sang in Hanoi on October 22.

Once the deal is signed, Vietnam will see a number of benefits, including stronger inflows of investment, he said.

Froman praised the Vietnamese fishermen for establishing a fisheries union, saying that the move benefitted the ongoing TPP talks.

He assured the host of the US’s continued support for Vietnam on its path to becoming a prosperous economy deeply integrated into the global market.

President Truong Tan Sang agreed with Froman that the TPP negotiations are progressing soundly, and affirmed that Vietnam will do its best to narrow the development gap between other countries in the region.

He asserted that Vietnam will also adopt international criteria and standards, including those set out by the International Labour Organisation, of which Vietnam is a member.

Vietnam and the US will continue their discussions to reach agreement on existing differences, the President said.

He also called upon the US to fully lift its ban on arms sales to Vietnam in a timely manner.