Vietnam Boosts Economic Growth Through Stronger CPTPP-EU Linkages

Vietnam is striving to achieve sustainable economic growth by strengthening its cooperation with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the European Union (EU). This is expected to be achieved by leveraging international trade agreements to enhance export competitiveness and deepen cooperation in advanced technology sectors. Prime Minister Le Minh Hung specifically urged Canada to expand market access for Vietnamese goods, including agro-forestry-fishery products. Simultaneously, he sought cooperation in training a high-quality workforce in artificial intelligence (AI), quantum technology, and semiconductors. Vietnam considers Canada an important partner, emphasizing the shared interests in peace, stability, the rule of law, and multilateralism. In its latest economic outlook report, Standard Chartered noted that Vietnam's economic performance in the first half of the year has been positive, with growth drivers gaining momentum. To further support this growth, Vietnam is implementing a program that focuses on identifying and assisting businesses with outstanding growth potential, rather than broad-based support policies. A comprehensive transport network is taking shape around Long Thanh International Airport, as major road projects are being accelerated to complement expressways and ring roads linked to the country's largest airport. Key facilities at the airport itself, including runways, taxiways, aprons, and the fuel supply system, are also nearing completion. Amidst persistent geopolitical uncertainties, experts advise Vietnam to strengthen exporters' capacity to meet international standards and optimize logistics and distribution networks to safeguard its position in markets like the Middle East. Vietnamese businesses are also accelerating the adoption of circular economy practices to improve competitiveness, reduce emissions, and meet increasingly stringent sustainability standards. Furthermore, Vietnam recognizes the importance of international cooperation in advanced fields such as AI, quantum technology, and semiconductors, as well as domestic industrial technology transfer and workforce development. Through its engagement with the CPTPP and the EU, Vietnam aims to achieve these objectives. These efforts are crucial steps towards Vietnam's goal of becoming a high-income country by 2045.