The report “Economic and distributional impacts of CPTPP: The case of Vietnam” is supported by the Australia - World Bank Group strategic partnership (ABP II) which supports Vietnam’s development agenda through technical assistance, capacity building, and analytical work.
Multilateral trade agreements such as the CPTPP are expected to further boost nation’s investment and export driven growth model.

“Even under conservative assumptions, the report estimates that CPTPP would increase Vietnam’s GDP by 1.1% by 2030. Assuming a modest boost to productivity, the estimated increase of GDP would amount to 3.5% from CPTPP,” according to Mr Ousmane Dione, World Bank Country Director for Vietnam.
All income groups are expected to benefit from this new agreement, although higher-skilled workers in the top 60% of the income distribution may reap more. In addition, the anticipated increase in FDI is expected to lead to a further expansion of services sectors and boost productivity growth. It will create opportunities for domestic private firms to integrate into global value chains and promote the development of the SME sector.
“The new agreement will bring direct benefits to Vietnam, from trade liberalization and improved market access. Most importantly, it will help stimulate and accelerate domestic reforms in many areas. Delivering commitments under the CPTPP will contribute in promoting transparency and supporting the creation of modern institutions in Vietnam”, said Mr Sebastian Eckardt, the World Bank Lead Economist for Vietnam.
The CPTPP (an agreed in principle trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam) is expected to stimulate reforms in areas such as competition, services (including financial services, telecommunications, and temporary entry of service providers), customs, e-commerce, environment, government procurement, intellectual property, investment, labor standards, legal issues, market access for goods, rules of origin, non-tariff measures, and trade remedies.
“Together with the World Bank, we are committed to helping Vietnam take advantage of the substantial economic opportunities created through CPTPP. This includes assistance to enhance competitiveness, reduce trade barriers, and improve connectivity”, stressed Australian Charge d’Affaires, Ms Rebecca Bryant./.