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Speaking at a workshop on labor in new-generation free trade agreements (FTAs) in Hanoi on November 19, Vinh stated the CPTPP will offer new chances for both laborers and enterprises, helping raise laborers’ living conditions, reduce poverty and promote growth.

An overview of the workshop on labor in new-generation free trade agreements.

He predicted the demand for laborers in the timber, garment and food sectors will rise by 0.084 percent if the export turnovers of these sectors increase by 1 percent yearly thanks to the CPTPP.

However, the agreement will also pose challenges, he noted, suggesting Vietnam enhance vocational training to meet market requirements and strictly follow commitments related to salary and social insurance payment.

Economists recommended Vietnam intensify institutional reform, increase national competitiveness and improve human resources quality.

According to a study of the International Labour Organisation (ILO), FTAs can help improve gender equality, especially in increasing access to the labor market and narrowing the salary gap.

The study also showed that agreements with labor-related clauses will help raise trade value by 28 percent, while those without labor-related clauses can help increase the value by only 26 percent.

To ensure compliance with labor commitments, Vietnam is in the process of amending the Labour Law to make it compatible with some contents of the CPTPP and make its commitments about labor more concrete, stated Nguyen Van Binh, deputy head of the Ministry of Labour, Invalids and Social Affairs’ Department of Legislation.

It will take Vietnam three to five years to amend the law and related regulations, and to improve awareness among the public, workers and enterprises, he added.

The deal, taking effect at the end of this year, is expected to bolster economic growth, create more jobs, alleviate poverty and improve the living quality of the member states.

It will create one of the world’s largest free trade blocks with a market of about 500 million people and a GDP of 10.1 trillion USD, accounting for 13.5 percent of the globe’s GDP.

The 11-nation accord is expected to increase Vietnam’s GDP by an additional 2.01 percent by 2035, according to the Ministry of Planning and Investment.

Vietnam Siflex crowns champions of Football Championship for Industrial Parks’ labors

(BGO) – The Trade Union of the Industrial Parks in the northern province of Bac Giang on November 11 held the closing and awarding ceremony to the football teams with achievement in the first Male Football Championship for the Industrial Parks’ workers, staff and labors in 2018 in Bich Dong town, Viet Yen district (Bac Giang province). 

 

Labors benefit from enterprises’ due attention to cultural and spiritual life

(BGO) – Apart from many activities launched by the trade unions, several enterprises operating at the Industrial Parks (IP) in the northern province of Bac Giang has paid due attention to building the cultural system, organizing art performances and sports events to improve the cultural and spiritual life for the workers after finishing their shifts.

 

Vietnam, Argentina forge stronger collaboration

Deputy Prime Minister and Foreign Minister Pham Binh Minh held talks with Argentine Minister of Foreign Affairs and Worship Jorge Faurie in Hanoi on July 30, aiming to seek ways to boost bilateral ties.

 

Vietnam wants to foster collaboration with UAE: PM

The Vietnamese Government always wishes to bolster its cooperation with the United Arab Emirates (UAE) in all aspects based on each side’s potential, Prime Minister Nguyen Xuan Phuc told new UAE Ambassador to Vietnam Obaid Saeed Bintaresh Al Dhaheri in Hanoi on July 27.

 

14 individuals awarded Certificate of Creative Labor

(BGO) – The Vietnam Labor Federation (VLF) has issued the Decision awarding the Certificate of Creative Labor to 14 outstanding individuals in the northern province of Bac Giang who are the inventors winning high prizes at the local Technology Invention Contest for the period of 2016 – 2017. 

 

Source: VNA