Ambassador Osius expressed his delight with the conclusion and extended his appreciation to the negotiating teams who had worked long and hard to conclude negotiations.
With this monumental achievement, the US and Vietnam are poised to become partners in a trading block that represents nearly 40% of global gross domestic product (GDP), he said.
Addressing the TPP as an ambitious, comprehensive, high standards and balanced trade agreement, the diplomat also expressed his hope that US partners in Vietnam and the other TPP member countries would realise this historic agreement, saying that the pact has the power to support jobs, create new opportunities, promote a fair global economic system, and transform the lives of hundreds of millions of individuals to ensure continued peace and stability in a fast changing world.
The TPP concluded after five years of intense negotiations after trade ministers of the 12 TPP members’ five-day meeting in Atlanta, the US, on October 5. The TPP brings together 12 countries: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam.
