The Trans-Pacific Partnership Agreement (TPP), which was signed on October 5, 2015, in Atlanta, Georgia, may significantly benefit Vietnam. Designed to stimulate trading among its 12 members—Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam—the TPP creates a number of opportunities for Vietnam’s small but rapidly growing export-oriented economy. To realize the gains, however, Vietnam needs to develop a yarn and an apparel industry, use the TPP’s phase-in for tightened drug standards to upgrade its pharmaceutical production, and make the best use of future foreign investments.