Home / Knowledge / News / Apparel/Garments / Vietnamese garment exporters keen on TPP
Vietnamese garment exporters keen on TPP
28
Jan '12
Vietnamese garment enterprises are putting high hopes on the Trans-Pacific Partnership (TPP), as they foresee chances of increasing their exports to the US market, once the deal is inked.

TPP would facilitate gradual reduction in tariffs on exports of several goods that Vietnam and other TPP member nation's ship to the US, before these are totally removed.

Such tariff abolishment would help the garment sector – Vietnam's biggest export earning sector – to raise its competitiveness in the US market, as compared to other countries.

Around 95 percent of Vietnamese exports would enjoy duty-free facility in the US, if the TPP materialises. However, the garment sector would benefit the most.

According to reports, some new issues have surfaced during the last round of negotiations for TPP as the US trade representative has sought application of the “yarn forward” principle.

Under the principle, preferential tariff benefits would be available to only those garment items for which yarn and post-yarn production processes like fabric, cutting and tailoring are undertaken in TPP member countries, and only the fibre can be procured from non-TPP member countries.

Experts say if such a principle is adhered to, it would not only prove detrimental to the Vietnamese garment exporters, but would even deprive the US investors in Vietnam from the benefits of the TPP, as they too only undertake cutting and tailoring process within the country.

They opine that altering or relaxing the “yarn forward” principle could largely open up the US market for Vietnamese exporters.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Christian Dior

Fashion | On 25th Apr 2017

LVMH to acquire Christian Dior Couture for €6.5bn

LVMH and Christian Dior, which holds directly and indirectly 41 per...

Information Technology | On 25th Apr 2017

Self-repairing fabrics to be the future of fashion

It is the era of smart. Intelligent materials like self-repairing...

Textiles | On 25th Apr 2017

Indonesia revitalising textile sector

With exports of textile and textile products rising in Indonesia, the ...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search