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Related Keywords: A joint trade committee, discuss a possible collaboration, expansion of the current coverage of the GSP, further expansion of their current markets, JTC, manufacturing of garments for exports, meeting was held earlier this week, officials from Vietnam and the Philippines, Trans-Pacific Partnership

A joint trade committee (JTC) meeting was held earlier this week between officials from Vietnam and the Philippines to discuss a possible collaboration in the manufacturing of garments for exports and the further expansion of their current markets.

Trade Undersecretary Ceferino S. Rodolfo said that the committee discussed how the Philippines could help Vietnam in light of the latter’s participation in major trade arrangements with the European Union and the remaining member states of the Trans-Pacific Partnership (TPP).

Related Keywords: garment products, major markets for textile products, textile export revenue of Vietnam, textile exporters in the world, textile exports of Vietnam, Trans-Pacific Partnership, Vietnam’s garment exports

The Vietnam Textile and Apparel Association (VITAS) said that the garment and textile sector exports will grow an average of 11.5 per cent per year from now till 2020.

According to the VITAS reports, the sector is expected to generate export revenue of US$27.5 billion this year, and increase this value to $31 billion next year and $45 billion to $50 billion by 2020.

Vietnam's garment and textile exports totalled $20 billion in the last nine months of this year, an increase of 10 per cent over the same period last year.

Related Keywords: brings both chances and challenges, cut trade barriers, foreign investment and an impetus for the country to change its development model, increase Vietnam’s exports, set common standards, Trans-Pacific Partnership, Vietnames textile and garment industry, Worlds largest free trade zone

The Trans-Pacific Partnership (TPP) deal, which aims to liberalize commerce in 40 percent of the world's economy, was reached following days of negotiations in Atlanta on Monday. The deal is now pending approval by lawmakers in all TPP countries, which include Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the U.S. and Vietnam. If approved, the TPP pact would cut trade barriers and set common standards for what will be the world's largest free-trade zone.

Related Keywords: bilateral trade, fourth largest textile exporter, Free trade agreemens, key to impressive growth, meet export target, tariff cut, Trans-Pacific Partnership, Vietnam, Vietnama National Textile and Garment Group, Vinatex

Vietnam becomes the world’s fourth largest textile exporter having earned an estimated US$12.18 billion in the first half of this year from these products – a year on year (YOY) increase of 10.26 percent. The industry is well on its way to meet its export target of US$27-27.5 billion set for 2015, according to the Vietnam National Textile and Garment Group (Vinatex),

Related Keywords: facing harsh competition, from zero to two percent on PSF, imported fibre, Indian textile and apparel exports, Ministry of Industry, plans to increase import tax, polyester staple fibre, PVTEX, Trans-Pacific Partnership, Vietnam domestic fibre manufacturers, yarn-forward rule of origin

The Vietnam domestic fibre manufacturers have been facing harsh competition from imported fibre. The Ministry of Industry with the aim to rescue and encourage domestic production has plans to increase import tax on polyester staple fibre (PSF) from zero to 2 percent.

The Ministry plans to raise tax on staple fibre, coded 55.01, 55.02, 55.03, 55.04, 55.06 and 55.07, which are currently enjoying a zero tax rate.

Related Keywords: Asia-Pacific region, business opportunities, expanding production line, FDI, Foreign firm, in Vietnam, investing billions of US dollars, reduce non-tariff barriers, regional free-trade agreement . eliminating tariffs, starting production, trade pack, Trans-Pacific Partnership, Vietnamese textile and garment

Foreign firm have started expanding their production line or starting production in Vietnam investing billions of U.S. dollars in anticipation of business opportunities the Trans-Pacific Partnership will bring which is due for completion in the near future.

Related Keywords: biggest garment supplier, Itochu Corp, Japan, multi-sectoral conglomerate, second-biggest cash earner, state-run Vietnam National Textile And Garment Group, trade pacts, Trans-Pacific Partnership, Vinatex

Itochu Corp, the third largest multi-sectoral conglomerate in Japan acquires 5 percent stake in the state-run Vietnam National Textile And Garment Group (Vinatex) with a purchase price of more than 1 billion yen (US$9.25 million).

Itochu Corporation became the first non-Japanese financial institution to invest in a big state-owned enterprise (SOE) of Vietnam. Itochu acquired a certain percentage of Vinatex's shares through public trading channel, not as a strategic investor, confirmed Tuoi Tre, Tran Quang Nghi, Chairman of Vinatex.

Related Keywords: bilateral trade, Trade ties, Trans-Pacific Partnership, US, US businessees and representative, US-Asean Business, Vietnam

Vietnam’s Deputy Prime Minister Vu Van Ninh meets US parliamentarians and businesses to discuss measures to boost bilateral economic and trade ties as Vietnam would continue to coordinate with the US and other parties to step up negotiations for the Trans-Pacific Partnership (TPP).

Related Keywords: global trade, stakes, stitching, Trans-Pacific Partnership, Vietnamese textile industry, Vinatex, weaving and dyeing, yarn production

Vietnam's top textiles manufacturer, Vinatex or Vietnam National Textile and Garment Group to fund restructuring and boost profit plans to sell stakes, in a listing it hopes would accede with the agreement of the Trans-Pacific Partnership (TPP) - a 12-nation pact that would cover a third of global trade.
 
Vinatex will conduct its IPO on the Ho Chi Minh Stock Exchange on July 22, offering 24.4 percent of the company, or 122 million stakes, at a starting price of 11,000 dong (52 U.S. cents) each.
 

Related Keywords: new textile complex in veitnam, textile project in Hai Phong, Trans-Pacific Partnership, Vietnam National Textile and Garment Group, Vinatex

Vinatex (Vietnam National Textile and Garment Group) has plans to build a new textile complex to manufacture yarn and fabrics in the An Lao district of Hai Phong. This is in line with its policy of building projects in the region.