Trans-Pacific Partnership (TPP) Ratification In Vietnam

On 5 October 2015, the United States and 11 countries in the Pacific Rim, including Vietnam, which have been negotiating the Trans-Pacific Partnership (TPP), announced that the terms of the groundbreaking treaty had been reached. Vietnam is generally considered to be one of the nations that stands to gain the most by acceding to the TPP. Its economy will be further liberalised through TPP membership and, in particular, foreign investors in the manufacturing and financial services sectors are optimistic that TPP membership will further open Vietnam's market beyond its WTO commitments. What is the process for Vietnamese ratification of the TPP, and when can we expect this to occur?

Ratification and implementation of an international treaty in Vietnam is regulated by the Law on Conclusion, Accession, and Implementation of Treaties, dated 16 June 2005 (the "Law on Treaties"). A treaty may be executed by either the Government or the State, and different procedures would