Pursuits
The Biggest Winner From TPP Trade Deal May Be Vietnam
- Vietnam may be the biggest winner from the Pacific trade deal
- Nation's GDP may gain 11% in 10 years, exports may jump 28%
The country’s seafood industry will benefit from the elimination of import taxes on shrimp, squid and tuna, now averaging 6.4 percent-7.2 percent.
Photographer: Miha Pavlin via Getty ImagesThis article is for subscribers only.
Vietnam, whose low-wage economy relies on exports, is likely to be the biggest winner of the Trans-Pacific Partnership that slashes an estimated 18,000 tariffs among the dozen participating countries.
In a decade, the country’s gross domestic product will be boosted 11 percent, or $36 billion, as a result of the world’s largest trade pact. Exports may soar 28 percent in the period as companies move factories to the Southeast Asian country. Here’s what analysts and economists say about Vietnam’s economic prospects and challenges under the deal.