Home / Knowledge / News / Apparel/Garments / TPP can strongly boost Vietnamese garment sector: VITAS
TPP can strongly boost Vietnamese garment sector: VITAS
21
Nov '13
The Trans-Pacific Partnership (TPP) agreement, likely to be signed later this year, can strongly boost the Vietnamese garment sector, Le Tien Truong, vice chairman of the Vietnam Textile and Apparel Association (VITAS), said while addressing a conference on ‘TPP Agreement and participation of Vietnam’, Vietnam Plus reported.
 
The conference was jointly organized by the Ministry of Industry and Trade (MoIT) and the Vietnam Chamber of Commerce and Industry in Hanoi.
 
At the conference, MoIT Deputy Minister Tran Quoc Khanh highlighted the various opportunities and challenges that TPP would bring for Vietnamese businesses, and also put forward some proposals for enabling entrepreneurs to make full use of the agreement.
 
He said it is essential for Vietnam to frame transparent policies to help domestic businesses benefit from the TPP agreement, which covers a wide range of issues.
 
According to experts, Vietnam is among the countries that would benefit the most from the TPP, as its main objective is to reduce tax barriers to goods and services, which would increase exports of clothing and many other items from Vietnam to major markets, especially the US.
 
Mr. Truong said the Vietnamese textile and garment sector has substantial interest in the TPP negotiations, and explained the sector’s perspective and approach towards the agreement.
 
While the TPP can strongly boost the Vietnamese garment and textile sector, it would also throw certain challenges such as regulations on origin and greater competition from other TPP-member countries that export garments.
 
Of the 11 countries with which Vietnam is negotiating the TPP agreement, Vietnam already has free trade relations with seven countries, and hence, the agreement would primarily provide an opportunity for Vietnamese garment sector to expand in the other four markets—Canada, Mexico, Peru and the US, economist Vo Tri Thanh said.
 

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 26th Sep 2017

US raises annual AGOA quota for textiles

The US Committee for the Implementation of Textile Agreements has...

Textiles | On 26th Sep 2017

Gujarat hopes extended textile policy to attract Rs 5000 cr

The Gujarat government feels that its recent decision to extend its...

Apparel/Garments | On 26th Sep 2017

Cash burn by e-tailers in India may double during festivals

During this year’s festival season, which has already started,...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Tony Ward
Tony Ward

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

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

September 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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