TPP to be submitted to Vietnamese parliament for ratification

The Vietnamese government is scheduled to submit the Trans-Pacific Partnership (TPP) to the parliament for ratification in July.

The cabinet has approved a report on the TPP so as to submit the deal to the National Assembly for ratification during its first gathering in July, the government said on its e-Portal on Wednesday.

The report, prepared by the Ministry of Justice, reviews the current legal system and provides a list of legal documents proposed to be revised, supplemented or promulgated to meet the agreement's requirements.

During his upcoming visit to Vietnam, U.S. President Barack Obama is expected to stress the importance of approving the TPP, the White House said in a statement on Tuesday.

The TPP involves Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam, which cover about 40 percent of the global economic output.

(APD)