US businesses support Vietnam’s TPP agreement negotiations

April 16, 2013 | 11:21

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US businesses have voiced their support for Vietnam’s efforts in promoting negotiations on the Trans-Pacific Partnership (TPP) agreement between Vietnam and other countries, including the US.

They made the pledge while working with Vietnamese Ambassador Nguyen Quoc Cuong during his recent visit to Kentucky and Ohio states in the framework of TPP agreement negotiations held by the US Business Coalition.

Ambassador Cuong expressed hope that the early signing of the TPP agreement would help speed up Vietnam’s economic restructuring and growth in a sustainable manner and create more favourable conditions for its exports to TPP partners.

Local authorities and businesses in Kentucky and Ohio states expressed their keen interest in the Vietnamese market, saying that they are seeking measures to boost economic and trade relations with Vietnam.

A representative from UPS, which earns over $50 billion in revenue annually, spoke highly of the Vietnamese government’s decision to grant business licence for the company to establish a wholly foreign invested firm operating in the express delivery sector in Vietnam.

A leader of General Electric (GE) which boasts $147 billion in annual revenue revealed the company’s plan to expand its operation in Vietnam, with a focus on the infrastructure development industry.

A representative from Proctor&Gamble with an annual revenue of $84 billion said his firm would expand operations in Vietnam in the near future.

VOV

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