“Vietnam stands to gain from TPP, but so do many of the other countries, including the U.S.,” Sebastian Eckardt, lead economist for the World Bank in Vietnam, said in an interview in Hanoi. For Vietnam’s government, talk of a collapse in a trade pact stretching across the Pacific Ocean from the U.S. to Malaysia is failing to dent confidence. TPP is set to boost Vietnam’s gross domestic product by 8 percent by 2030, making it among the biggest gainers of the trade accord, according to the World Bank. Increasing the participation of domestic companies in trade remains a challenge, particularly in the face of trade deals such as TPP, the lender said in a report last week. Getting the trade deal approved will be difficult in the U.S., where the presidential election campaign has been dominated by anti-globalization sentiment.

Source: Thanhnien News July 27, 2016 06:00 UTC