In TPP negotiations Vietnam’s garment gets top preference

Vietnamese government in the negotiating process of the Trans-Pacific Partnership (TPP), has given garment and textile utmost preference, as it saw an export revenue increase of 18.6 percent year-on-year. In 2013, Vietnam earned 17.98 billion U.S. dollars from selling garment products to overseas markets, according to Vietnam’s Statistics Office (GSO).

Major TPP markets for Vietnamese garment in 2013 included the United States and Japan, which accounted for 43 percent and 11 percent of the country’s garment export turnover respectively, Truong cited GSO’s statistics, adding the TPP countries are the most important market for Vietnamese garment.

Le Tien Truong, vice chairman of the Vietnam Textile and Apparel Association (VITAS) said that Vietnam’s garment and textile sector possesses international competitiveness and will be a potential beneficiary of the TPP.

Truong said that when joining TPP, Vietnam will have an opportunity to promote investment in material production, thus increasing criteria of trade surplus, added value and localization rate of Vietnamese garment.

The official of VITAS made recommendations for the country’s garment companies to get prepared for TPP by establishing a tight supply chain with high commitment and responsibility to build competitiveness of each company as well as of the whole chain.

Currently in Vietnam, there are about 6,000 companies operating in garment sector, mainly private and foreign invested ones.

Garment, accounting for 17 percent of the country’s total export revenue, ranked the second in the country’s top export revenue list in 2013, after phones and accessories, according to GSO.

The year 2013 was seen as a successful year for Vietnamese garment industry.

Recent Posts

Uncaged Innovations partners to launch leather alternative

Biomaterial company, Uncaged Innovations, has collaborated with ten independent fashion brands to launch Elevate, a new eco-friendly luxury leather alternative.

24 hours ago

Rudolf enhances digital pigment printing

Rudolf introduced the Digital Pigment Printing Toolbox, a package of pre-treatment products to improve the quality and sustainability of pigment…

1 day ago

Aquafil Group unveils sustainable yarns

Aquafil Group, the innovator behind ECONYL regenerated nylon, has launched the ECONYL Bespoke Collection that mimic the aesthetics of natural…

1 day ago

GTT and Golden Long John pioneer sustainable textile processes

Green Theme Technologies (GTT), has partnered with Golden Long John to advance environmentally conscious fabric dyeing and finishing processes.

2 days ago

KOLAB Collection launches NFC-tagged clothing line

KOLAB Collection, a leader in sustainable fashion, has revolutionized the industry by launching NFC-tagged clothing line as part of its…

2 days ago

Advance Denim, Lenzing, and Asahi Kasei launch sustainable stretch denim

Advance Denim, Lenzing’s, and Asahi Kasei have teamed up to launch the LoopTy Collection, a series that combines functionality, style,…

2 days ago