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Related Keywords: compared with other participating nations, competitive ability. get biggest benefits from TPP, focus on garments and textiles, great chance boost exports and join the global supply chain, help Vietnam complete market-orientation targets, improve its business environment, TPP, Trans Pacific Partnership

At a workshop held in Ho Chi Minh City last week. Dr Nguyen Tien Dung, principal of the Law-Economics University, during his speech said that Vietnam has the lowest level of development in the 12 Trans Pacific Partnership (TPP) nations but Vietnam is seen as the country that will benefit the most to get the biggest benefits from the TPP, compared with other participating nations, and this will be a great chance for the country to boost its exports and join the global supply chain.

Related Keywords: American Chamber of Commerce, generate export revenue, global integration to facilitate Vietnamese garment and textile products, TPP, Vienam-European Union Free Trade Agreement, Vietnam Textile and Apparel Association, Vietnam top ten garment and textile exporters in the world, Vitas

Vietnam has been among the top ten garment and textile exporters in the world for the last 10 years. Last year, it ranked fifth after China, Turkey, Bangladesh and India. According to the Vietnam Textile and Apparel Association (Vitas) in the first nine months of this year alone, garment and textile exports totalled $20 billion, an increase of 10 percent over the same period last year.

Related Keywords: capability of providing accommodations to workers, Chinese, Foreign direct investment, import of outdated energy consuming technologies, Minister of Science and Technology, pour huge capital, satisfy occupancy rate in industrial zones, technological and environmental standards, textile and garment projects, TPP, Vietnam

As per the Foreign Investment Agency report, so far this year out of the $11 billion worth of foreign direct investment (FDI) poured into Vietnam; $3.5 billion went to textile and garment projects due to the Trans Pacific Partnership Agreement (TPP). The investments in the textile and garment industry have been increasing so sharply that this has raised concern.

Related Keywords: await the full text of the TPP, duty disadvantage at home, expand outside India, hurt exports of textile items to Vietnam, Indian textile and garment companies, moving to select TPP countries, potential risk of investment and employment, RCEP, shift base to Vietnam, TPP, yarn-forward rule

The Indian textile and garment companies facing duty disadvantage at home, some have already prompted to expand outside India in recent years. Moreover, with the recently negotiated Trans-Pacific Partnership (TPP), some more the Indian companies may shift their base to Vietnam to grab the advantage of duty-free access to the US and other TPP markets, like they did some years ago to Bangladesh to take the benefit of duty in exports as well as low labour costs, according to analysts.

Related Keywords: before joining free trade pact, especially textile and textile products, focusing on strengthening competitiveness, Indonesia government, Indonesia textile association, Indonesian textile market, Indonesian Trade Minister, manufacturing products, of national industry, TPP, TPT

The Indonesia government aware of the threat from Trans Pacific Partnership (TPP) toward its manufacturing products especially textile and textile products (TPT) would be focusing on strengthening the competitiveness of the national industry before joining the free trade pact, TPP, said Indonesian Trade Minister Thomas Lembong on Friday.

Related Keywords: American fiber, boost acces to Vietnamese market, dependent on import, garment key export product, good quality and competitive price, not much fiber plant in Vietnam, potential market, suppliers of Vietnamese garment and textile companies, survey show Vietnam, TPP, US Cotton Assoication, US fiber firms

The U.S. Cotton Association survey shows that Vietnam is a very potential market with garment being a country’s key export product. At a meeting held in Ho Chi Minh City on Monday, many U.S. fibre firms expressed their desire to become suppliers of Vietnamese garment and textile companies.

There are not much fibre plants in Vietnam, local firms are dependent on import and most materials, over 80 percent is imported from China and India.

Related Keywords: challenges Vietnam apparel industry, dyeing, garment technology, input material imported, RoK scientific seminar, Rule of origin, TPP, Vietnam top apparel exporters, weak in fiber manufacturing, weaving

During a Vietnam-Republic of Korea (RoK) scientific seminar on garment technology held in Ho Chi Minh City on September 9, co-hosted by the Ministry of Science and Technology’s National Office in the Southern Region and representative office of the Korea Institute of Industrial Technology, concern was raised that once the looming Trans-Pacific Partnership (TPP) comes into force, regulations on the origin of goods will present big challenges to Vietnam’s textile and garment sector.

Related Keywords: among other countries and territories worlwide, for Vietnamese garment and textile products, Free trade agreement, garment and textile generated largest turnover, TPP, US largest export market, Vietnam ran trade surplus, Vietnam Textile and Apparel Association

The U.S. has remained Vietnam’s largest export market among 200 countries and territories worldwide, a position it took over from the EU, which had held it since 2012, at the end of last year. According to official figures from the General Statistics Office (GSO), Vietnam earned $28.5 billion from shipments to the U.S. in 2014, up 19.6 percent compared with 2013.

Vietnam ran a US$17.2 billion trade surplus with the U.S. in the first eight months of this year, a 20.3 percent rise from $14.3 billion the country earned in the same period last year.

Related Keywords: China swung from land of opportunity, economic sick man of Asia, electricity cost, establish factories elsewhere, foreign investors, manufacturing centre, number of domestic, Rapid decline in competitiveness in China, rising wages, TPP

China’s rapid decline in competitiveness as a manufacturing centre is being displayed both in market analysis and in the number of domestic and foreign investors who are looking elsewhere to establish their factories. China has swung from being the land of opportunity to the economic sick man of Asia.

Related Keywords: enjoy zero percent tax rates, HCMC Enterprise Association, Japanese firm move to invest, ministry of industry and trade, three largest projects . fibre plant, TPP, Trade Promotion Department, Vietname garment and textile industry to grow, VN-EU FTA

With the signing of TPP and VN-EU FTA and once the agreement takes effect, Vietnamese garment and textile industry is expected to grow 50 percent in the first year and 20 percent in the following year, according to the Trade Promotion Department under the Ministry of Industry and Trade.

To take advantage of opportunities from free trade agreements such as the Trans-Pacific Partnership (TPP) and VN-EU Free Trade Agreement many foreign firms have recently sped up investment in garment and textile industry in Vietnam.