HANOI, Vietnam (AP) — Vietnamese President Nguyen Phu Trong (WEN FUH CHONG) has submitted a Pacific Rim trade pact to the National Assembly for approval.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership will take effect at the year's end after Australia earlier this week become the sixth nation to ratify it.
President Donald Trump pulled out of the pact just days after taking office last year. The remaining 11-member trade pact accounts for more than 13 percent of the world's GDP.
Addressing lawmakers, Trong says the pact reflects Vietnam's strong commitments to reforms and comprehensive international integration. He also warned of challenges.
Vietnam is expected to be one of the members that would most benefit from it.
