Home / Knowledge / News / Apparel/Garments / TPP a double edged sword for Vietnamese garment exports
TPP a double edged sword for Vietnamese garment exports
19
Aug '14
The Trans-Pacific Partnership (TPP) agreement is not just positive for the Vietnamese economy, but also has its negatives; delegates heard at a seminar in Hanoi.

As per the TPP, 90 percent of Vietnamese exports to countries in the TPP will not attract tariffs, which provides attractive opportunities to Vietnamese industry, the Voice of Vietnam reported.

However, it will also open the doors to foreign competition in the Vietnamese domestic market and will put immense pressure on domestic industry as exports to Vietnam from TPP member countries too will attract zero tariffs, experts said.

Export of garments, footwear, timber and agricultural products will be the most benefitted and exports from other sectors which are weak today, will also be benefitted when exporting to other TPP members.

Vietnamese garments exported to the US currently attract tariffs ranging from 17% to 32% and once the TPP takes effects these exports will attract zero tariffs, which could mean exponential growth for the sector.

However, to enjoy benefits of reduced tariffs, the garment sector must comply with strict requirements on certificate of origin. Materials for garment production must be imported from other TPP member countries or produced domestically.

The 12 TPP member countries currently account for nearly 40% of the world’s population, produce over 50% of global GDP, and include some of the fastest growing economies in the world.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Fashion Revolution/Fashion Transparency Index

Fashion | On 23rd Apr 2018

Top global fashion brands now more transparent

Fashion Revolution’s Fashion Transparency Index 2018 reveals Adidas...

Japan’s clothing imports up 4% in fiscal 2017

Apparel/Garments | On 23rd Apr 2018

Japan’s clothing imports up 4% in fiscal 2017

Japan’s imports of clothing and accessories increased by 4 per cent...

PVH, WWF tie up to protect water bodies in Ethiopia, India

Apparel/Garments | On 23rd Apr 2018

PVH, WWF tie up to protect water bodies in Ethiopia, India

PVH Corp , parent company of brands like Tommy Hilfiger, Calvin...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Larry L Kinn
Suominen Corporation

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

Kai Poehler
Voith Paper GmbH & Co. KG

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

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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

Leave your Comments


April 2018

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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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