Home / Knowledge / News / Textiles / US garment, textile footwear firms eye Vietnam sans TPP
US garment, textile footwear firms eye Vietnam sans TPP
06
Nov '17
US garment, textile footwear firms eye Vietnam sans TPP
US garment, textile and footwear firms are seeking investment opportunities in Vietnam after their country withdrew from the Trans-Pacific Partnership (TPP). According to American Apparel & Footwear Association (AAFA) senior vice president Nate Herman, Vietnam’s strengths in quality, price and delivery commitments attracts US retailers to the country.

Herman said Vietnam surpassed rivals in export growth to the United States despite receiving no preferential trade pacts. Vietnam’s exports to the United States in these sectors are likely to increase in future, even without TPP, a Vietnamese news agency quoted Herman as saying.

He noted that the imports of Vietnam’s garment-textile and footwear to his country grew by 8.74 per cent and 11.83 per cent respectively over the past 12 months and Vietnam was the second biggest exporter to the US market, after China.

Vietnam exported over $30.16 billion worth of goods to the United States in the first eight months of 2017, making up 1.99 per cent of the total US import turnover. During the same period, the country paid over $2.2 billion in taxes, ranking second among 15 countries paying the highest import taxes to the United States.

AAFA and the American Chamber of Commerce in Vietnam (AmCham Vietnam) held a series of activities in Ho Chi Minh City, including a workshop on product safety and compliance issues, in late October.
Earlier, the National Cotton Council of America (CCI) coordinated with the Vietnam Textile & Apparel Association to organise the Cotton Day 2017 and granted investment licenses to 12 businesses operating in Vietnam and using the US cotton.

However, some experts feel Vietnam’s exports to the United States may face difficulties in future due to tighter US regulations on product safety to reduce trade deficit. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Amazon

Apparel/Garments | On 23rd Sep 2018

Consumers in Turkey get access to Amazon

Amazon has launched in Turkey giving customers in the country...

Value in omni-channel retail with Flipkart buying: Walmart

Apparel/Garments | On 23rd Sep 2018

Value in omni-channel retail with Flipkart buying: Walmart

With the acquisition of Flipkart, Walmart sees great value in...

E-com to result in common SE Asian consumer market: BCG

Textiles | On 23rd Sep 2018

E-com to result in common SE Asian consumer market: BCG

The rapid spread of e-commerce and digital technologies is binding...

Interviews View All

Akash Khetan, Narayan Tex Fab

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Top executives, Textile industry

Top executives
Textile industry

The foremost issue is bridging the skill gap

Prabu Mohanram, Balavigna Weaving Mills Pvt Ltd

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Vikas Banduke,

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Gagan Gulati,

Gagan Gulati

PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....

Riddhi Jain,

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kevin Nelson, TissueGen

Kevin Nelson
TissueGen

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

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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


September 2018

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

news category


Related Categories:

Advanced Search