(VOVworld) - Leaders of countries involving in the Trans-Pacific Partnership agreement (TPP) negotiation, including Vietnam, are committed to completing the agreement as soon as possible to boost free trade and investment in the region.

Commitments were made at the on-going 14th Round of TPP Negotiations in Virginia, the US. The leaders believe that, given the progress of the 13^th round of negotiations, the TPP agreement is finally within reach, opening a promising future for free trade throughout the Asia – Pacific region.

The TPP was signed by Brunei, Chile, New Zealand, and Singapore in 2005 to enhance trade and investment among partner countries, encourage economic growth, and maintain and generate jobs. Vietnam, the US, Australia, Malaysia, and Peru are now negotiating to join the agreement.

The TPP is expected to create a breakthrough for Vietnam’s exports and economic competitiveness. Once Vietnam joins the TPP, its spearhead export items such as garments and textiles, fish, and wood products, will enjoy tariff reductions or exemptions entering the US, Australia, and other partners. It’s estimated that the TPP will earn Vietnam 36 billion USD, equivalent to 15.5% of GDP in 2025.