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Related Keywords: bloc trade partners, coming into force early next year, EVFTA, expected to expand its markets, learn rules and roadmap, local enterprises, order to better access the market, reduce tax to zero percent, tariff reductions, use materials imported from the EU, Vietnam garment and textile sector, Vietnam-EU Free Trade Agreement

With Vietnam-EU Free Trade Agreement (EVFTA) comes into force in early 2018, Vietnam’s garment and textile sector is expected to expand its markets as it will be reducing tax to zero percent on its garments and textiles exported to the EU.

European experts proposed local enterprises learn the rules and the roadmap for tariff reductions in order to better access the market, especially those regarding product origin to make use of opportunities offered by the pact..

Related Keywords: APEC, between TPP members, DBS, diversion of service trade, global trade, improved market access, might erode India's market share, Negotiations on-going with the ASEAN, RCEP, Singapore banking group, tariff reductions, TTP agreement

The Trans-Pacific Partnership (TPP) which includes a group of 12 countries, led by the US reaching a tentative agreement earlier this week, concern is whether improved market access, tariff reductions and diversion of service trade between the TPP members, as and when it becomes effective, might erode India's market share. However, real impact is likely to be smaller as the TPP is likely to take years to implement.