CPTPP bolsters Vietnam's trade and investment, paving way for growth

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has been strengthening Vietnam's international economic connectivity and promoting free trade since its effectuation. The agreement has significantly expanded Vietnam's access to major markets across North America, the EU, and the Asia-Pacific region, contributing to strong export growth in key sectors such as textiles and garments, footwear, and agricultural, forestry, and fishery products. The CPTPP has also encouraged greater investment into Vietnam by promoting regional production networks and clearer rules of origin. Vietnam is also advancing the CPTPP agenda as the chair in 2026, demonstrating its commitment to playing a central role in regional economic integration and contributing to the strengthening of the free trade system. A recent senior officials' meeting of the CPTPP held in Hanoi highlighted the economic resilience of member countries and the importance of strengthening linkages between the CPTPP and the EU. Under its one-party system, the Vietnamese government prioritizes economic growth and actively leverages international trade agreements. Multilateral agreements like the CPTPP serve as crucial tools for Vietnam to establish its position in global supply chains while relatively reducing its economic dependence on China.