Home / Knowledge / News / Textiles / TPP may benefit Vietnamese textile & garment sector
TPP may benefit Vietnamese textile & garment sector
01
Apr '13
Participation in the Trans-Pacific Partnership (TPP) could help Vietnamese enterprises, including textile and garment businesses, to gain entry in other markets and can even bring large-scale investments in the country, as it happened at the time when the country gained WTO membership, a Ministry of Industry and Trade (MoIT) official said.
 
Addressing a conference in Ha Noi, Ngo Chung Khanh, Deputy Director of MoIT’s Multilateral Trade Policy Department said besides gaining entry into new markets, TPP would also help Vietnamese enterprises to enhance their exports to existing markets, particularly to the US, and better exploit the opportunities arising out of process of streamlining and  regional economic integration.
 
However, he accepted that TPP would build some pressure on the open market and cause Vietnamese businesses, particularly those in the agriculture, industry and service sector, to face higher competition.
 
Vietnam is already facing problems due to limited number of people engaged in carrying out TPP negotiations and lower institutional capacity for implementing its commitments.
 
Vietnam Garment and Textile Group (Vinatex) Deputy General Director, Le Tien Troung said Vietnamese textile and garment businesses have witnessed higher integration in world markets, which has created a base for enhanced exports. 
 
However, these opportunities remain coupled with several challenges, as to tap these opportunities Vietnamese textile and garment industry needs to complete a supply chain, which is difficult for the industry to achieve, in the light of limited availability of locally produced raw material.
 
Peter A. Petri from US’s Brandeis University too opined that TPP could bring many benefits to Vietnam, but would also pose many challenges for the country.
 
The new pact would require compliance of stringent rules regarding sourcing of raw products and  effects of production process on the environment, he added.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 29th May 2017

Special package creates 7,50,000 jobs in garment sector

The special garment package of Rs 6,000 crore that was introduced by...

Md Siddiqur Rahman, president, BGMEA, addressing a press conference with other dignitaries. Courtesy: BGMEA

Apparel/Garments | On 29th May 2017

BGMEA asks govt for 5% incentive for 2 years in Budget

The Bangladesh Garment Manufacturers and Exporters Association...

Textiles | On 29th May 2017

Tintex, Bruckner bring new effects to knitted fabric

The textile company Tintex has joined hands with the system supplier...

Interviews View All

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

news category


Related Categories:
May 2017

May 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