On the morning of June 25, the National Assembly of Vietnam voted overwhelmingly to pass the Resolution ratifying the accession of the United Kingdom of Great Britain and Northern Ireland to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Out of 460 National Assembly deputies present, 459 voted in favor.

Before the vote, Chairman of the National Assembly's Foreign Affairs Committee, Vu Hai Ha, presented a report on behalf of the National Assembly Standing Committee, explaining and accepting the opinions of the deputies.

The deputies unanimously agreed that the UK's accession document is an integral part of the CPTPP, requiring the National Assembly's authority to ratify. The procedures and order for proposing the ratification complied with the provisions of the 2013 Constitution, the Law on Organization of the National Assembly, and the Law on International Treaties.

The National Assembly deputies highlighted the necessity of ratification and its timely approval at the 7th session. The draft Resolution was also unanimously agreed upon.

"The UK has made higher commitments to opening its market to Vietnam than other CPTPP countries, exceeding the commitments of the Vietnam-UK Free Trade Agreement (UKVFTA) in several key areas. Within the CPTPP framework, the UK will recognize Vietnam's manufacturing industries operating under market economy conditions," said Mr. Vu Hai Ha.

The National Assembly's ratification positions Vietnam among the first six CPTPP countries to approve the UK's accession document, showcasing Vietnam's proactive and responsible approach to enhancing bilateral trade and investment relations with the UK.

This move affirms Vietnam's role and position in the region and the world, creating new momentum for socio-economic development, improving the legal system, and enhancing the competitiveness of Vietnamese enterprises.

The CPTPP was signed in 2018 and took effect in Vietnam at the beginning of 2019. The agreement includes 11 member countries: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Singapore, New Zealand, Peru, and Vietnam, collectively representing about 500 million people. The International Monetary Fund (IMF) estimates that with the UK's inclusion, the CPTPP bloc will contribute 15% of global GDP.

The UK applied to join the CPTPP in 2021, becoming the first European country to join this dynamic trade bloc and the first new member since its inception, transforming the CPTPP from a Pacific pact into a truly global agreement.

Tran Thuong