Vietnam has important role in Japan’s CP TPP strategy: Japanese expert

Prof. Koichi Ishikawa from the Institute of Asian Studies under the Asia University, Japan (Photo VNA)

Vietnam, as a big economy in ASEAN in terms of both trade and investment, has an important role in Japan’s strategy involving the Comprehensive and Progressive Trans-Pacific Partnership (CP TPP), according to a Japanese expert.

Prof. Koichi Ishikawa from the Institute of Asian Studies under the Asia University, Japan, said in the context of the US, an ally of Japan, withdrawing from the TPP and seeking bilateral free trade agreements (FTAs), Japan had made successful efforts to push for the CP TPP.

He told the Vietnam News Agency in an interview on the occasion of the CP TPP signing that the Japanese government estimated that the deal with 11 members would contribute to expanding Japan’s GDP by 1.49 percent. In case it has 12 members, the figure would be 2.49 percent.

Ishikawa said the GDP expansion for Japan with the CP TPP without the US would be smaller, but 1.49 percent was still a significant figure for the Japanese economy, considering the recent low growth rate.

He noted that the CP TPP issues many new regulations in the fields of e-commerce, products’ origin, intellectual property and State-owned enterprises, therefore the deal is dubbed an FTA of the 21st century and a model for future FTAs in the world.

According to Ishikawa, the CP TPP would be an effective tool to curb the spread of US protectionism policies.

VNA