Malaysia, Chile, Brunei granted CPTPP tax benefits

HCMC – Malaysia, Chile, and Brunei have been granted access to trade tax benefits under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), according to the Vietnamese Ministry of Industry and Trade. Government Decree 68/2023, issued on September 7, expands the scope of the CPTPP to include Malaysia, Chile and Brunei, enabling these nations to enjoy preferential export and import tax rates when trading with Vietnam. The CPTPP is designed to enhance economic cooperation among member countries by reducing trade barriers across the Asia-Pacific region. It was originally applicable to Australia, Canada, Japan, Mexico, New Zealand, Singapore and Peru. The CPTPP is a trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.