U.S. offers $30 million to help Vietnam implement TPP

By Toan Dao   May 26, 2016 | 02:17 pm GMT+7
U.S. offers $30 million to help Vietnam implement TPP
Vietnam's National Assembly Nguyen Thi Kim Ngan (L) and U.S. President Barack Obama (R). Photo by Reuters/Carlos Barria

The United States will provide Vietnam $30 million to help it implement the Trans-Pacific Partnership, the White House said in a statement, without giving any time frame.

The funds will be used for work to ensure freedom of association, including independent unions, and other internationally recognized labor rights; protection and enforcement of intellectual property; and environmental protection and sustainable growth, the White House said.

The U.S. government will commit resources and technical expertise to support not only Vietnam but also other TPP partners to implement and effectively enforce the obligations of the agreement, according to the statement. 

“TPP is central to our goal of deepening the U.S.-Vietnamese economic relationship,” the White House said. 

The Obama Administration has made securing ratification of the TPP a top priority and is working with Vietnam and other TPP partners to help them complete the implementation of their TPP commitments. 

The TPP, which is considered the trade deal of the 21st century, will create new opportunities for American and Vietnamese workers and businesses, including small businesses; promote innovation and the digital economy; foster fair competition, transparency, and good governance; and promote workers’ rights, conservation and sustainable growth, the White House said.  

 
 
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