Vietnam Ambassador Says Houston Would Benefit From Trans-Pacific Trade Agreement

Ambassadors from countries in the Trans-Pacific Partnership trade agreement are hoping to expand the number of participants.

The original agreement between four countries has been in place since 2005, but an updated agreement could include at least 11 countries — including the United States. Ambassador Nguyen Quoc Cuong from Vietnam says the Port of Houston would benefit.

Eighty percent of the world’s purchasing power and more than 90 percent of [the] world’s economic growth [is] outside of the United States. So Houston, Texas in particular and the United States — in general — should be part of that.”

Malaysia, New Zealand, Australia, Brunei, Canada, Chile, Mexico, Peru and Singapore are considering the expansion.  The ambassador looks forward to talks in Lima, Peru, next month.

“The next route in Lima will be an imporant one. I think that all countries negotiating TPP [are] very committed to making progress. And I do believe that Lima would have some progress, as well.”

Japan and South Korea have indicated an interest and could also take part.

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