Export turnover to CPTPP market increases sharply
According to information from Vietna Industry and Trade Information Center - Ministry of Industry and Trade, in 2024, two-way trade turnover between Vietnam and CPTPP market is estimated to reach 102.1 billion USD, an increase of 6.8% compared to 2023, accounting for 13.1% of total import-export turnover... In 2024, it is estimated that Vietnam's trade surplus with the CPTPP market reach 9.4 billion USD, double trade surplus of 4.7 billion USD in the previous year.
Each industry and export sector to markets in CPTPP bloc has had spectacular growth, higher each year than the previous year and many groups of goods have a fairly high rate of using CPTPP preferential certificates of origin (C/O). In particular, Vietnamese enterprises have effectively taken advantage of incentives from CPTPP in markets in the Americas such as Canada, Mexico and Peru - countries that have had trade agreements with Vietnam for the first time under CPTPP.
Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) officially took effect in Vietnam from January 14, 2019. After 6 years of implementation, CPTPP is considered one of agreements that bring high efficiency to Vietnamese goods exported to this market.
Along with 11 original member countries, CPTPP officially took effect in the United Kingdom from December 15, 2024. Opportunities and challenges continue to open up for Vietnam in 2025 as well as the 12 member economies of trade bloc accounting for 15% of the world's total GDP and a population of more than 500 million people.
Ministry of Industry and Trade stated that after 5 years since its entry into force in January 2019, CPTPP has played an important role in promoting Vietnam's trade with markets in the Americas, especially member markets including Canada, Mexico, Chile, and Peru (in which Canada, Mexico and Peru are the markets that have FTA relations with Vietnam for the first time).
These results show that CPTPP Agreement has had positive impacts, whether directly or indirectly on Vietnam's exports to this market.
For Asian and African markets, according to Department of Asian and African Markets, after more than 5 years of entry into force, CPTPP Agreement has significantly increased import and export growth between Vietnam and Asian countries in the CPTPP. CPTPP is also a lever to push Vietnamese goods to markets, in which some demanding markets such as Japan, Australia, and New Zealand have immediately cut import tariffs on many important items such as wooden furniture and agricultural and aquatic products. This increases scale of trade between Vietnam and CPTPP countries as well as contributes significantly to Vietnam's economic growth.
Regarding structure of export items to these markets, they are mainly phones and components; machinery and spare parts; textiles; footwear; agricultural products... In particular, in 2024, machinery, equipment, tools and other spare parts are the largest group of export items to the CPTPP market with an estimated turnover of 7.12 billion USD, an increase of 22.4% over the previous year, accounting for 12.8% of total export to the CPTPP market.
For agricultural products, rice export turnover to CPTPP market reached 555.8 million USD, up 74.9% over the same period last year. In addition, coffee export turnover also achieved a growth rate of 26%; vegetables and fruits increased by 20.6%; rubber increased by 118%...
Ms. Phan Thi Thanh Xuan, Vice President and General Secretary of the Vietnam Leather, Footwear and Handbag Association, said that CPTPP Agreement has brought about very positive export growth figures for leather and footwear enterprises. If previously, enterprises in CPTPP countries only accounted for less than 10% of total export turnover of the industry, now, it has accounted for more than 14%.
Another industry is pepper, Ms. Hoang Thi Lien - President of Vietnam Pepper and Spice Association (VPSA) said, 2024 will mark a breakthrough in market exports thanks to advantages of FTA agreements and the efforts of enterprises.
More specifically, pepper businesses are currently exporting to many markets, including CPTPP market. In this market, there are markets such as Australia, Japan, and New Zealand... which are countries with high consumer demand, while Vietnam has an advantage in production.
“With CPTPP market, we are currently exporting directly to Japanese market and many Japanese businesses have come to invest in the spice industry in Vietnam. In Australian and New Zealand markets, we currently have an absolute advantage in supplying pepper products,” said Ms. Hoang Thi Lien.
Focus on green factors
Although exports have made strong progress to CPTPP market, exports to this market are also facing many barriers. In particular, trend of green growth and sustainable development is becoming a mandatory choice and a requirement of global stature and scale.
Currently, EVFTA and CPTPP are two agreements with the highest requirements on environmental protection and these regulations are increasingly becoming common standards for other agreements, becoming a global playground. Green growth requirements are essential to protect people and are also a form of non-tariff tool that each country is allowed to build with increasingly higher standards. For example, in Canada, Ms. Tran Thu Quynh - Trade Counselor, Vietnam Trade Office in Canada informed that since 2015, Canada has included goal of responsible production and consumption in sustainable development roadmap to produce using less resources, improving quality of life of the people. In addition to policy of encouraging electric vehicles and zero-emission vehicles, Canada encourages remanufacturing, refurbishing, recycling and reuse. From the government to the people, everyone must be responsible for reducing carbon in consumption regulations.
Canadian businesses also tend to replace similar products imported from far away by finding sources of supply from nearby markets. At the same time, they focus on finding import partners with same interests and capabilities as themselves. For example, footwear, textiles and furniture must all pay attention to green production, clean production and use of recycled materials.
To support businesses, Mr. Luong Hoang Thai - Director of the Multilateral Trade Policy Department - Ministry of Industry and Trade said that Ministry of Industry and Trade is making efforts to build a closely coordinated ecosystem between ministries, sectors and localities to comprehensively support businesses.
In the process of businesses trying to exploit and take advantage of incentives from the CPTPP, if they encounter barriers or problems, ministries, sectors and localities are ready to step in to support businesses. The Government is also directing strongly to build an effective support system for businesses. Up to now, we have initially formed a basic operating system to support businesses in exploiting FTAs in general and especially new-generation FTAs such as CPTPP.

Source: Vitic/ congthuong.vn