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Related Keywords: annual spandex production capacity in Vietnam, gradually increase tire cord production capacity, Hyosung Corp, investment in Vietnam, plans to ramp up, produced textiles and industrial materials, South Korea based leading chemical and textile company, to become its largest spandex manufacturing production base, Trans Pacific Partnership

Hyosung Corp., a South Korea based leading chemical and textile company plans to ramp up its annual spandex production capacity in Vietnam to 80,000 tons from current 50,000 tons, a move that will make the plant to become its largest spandex manufacturing production base, and gradually increase the tire cord production capacity from current 100,000 tons per year.

Hyosung Corp. is expected to up investment in Vietnam after its operation in the Southeast Asian country delivered the most impressive earnings among its subsidiaries last year.

Related Keywords: boost production and development, Huntsman Textile Effects, import value of textile-garment accessories, investors, meet domestic market demands, supplier of dyes and chemicals, Trans Pacific Partnership, US inflow of investment, Vietnam Cotton and Spinning Association, Vietnam textile and garment sector, warehouse

Vietnam has seen significant inflow of investment from the US in its textile and garment sector in recent years, one of the many US investors is Huntsman Textile Effects, a supplier of dyes and chemicals under the US-based Huntsman Group, in anticipation of the potential from the Trans Pacific Partnership (TPP).

Huntsman’s warehouse located in the Long Binh Industrial Park in the southern province of Dong Nai after only six months of operation since its opening in mid 2015 is operating at its full capacity of 250,000 tonnes.

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: Chinese textile sector, may be affected, meet Barack Obama, nation free trade plan, Nguyen Phu Thong, push the trade partnership, reduce textile imports, to qualify for duty free trade, TPP, Trans Pacific Partnership, US and Vietnam join hands, Vietanamese Communist party chief, yarn forward

China's export industries, the textile sector in particular, may possibly be affected as the US and Vietnam join hands in pushing the trade partnership. Vietnamese Communist Party chief Nguyen Phu Thong held talks on July 7 at the White House with US president Barack Obama covering the Trans-Pacific Partnership (TPP), the 12-nation free trade plan that Obama hopes to implement as a legacy of his two-term presidency.

Related Keywords: American trade negotiators Vietnam, create new markets in Vietnam for the U.S. textile industry, expand trade negotiating power, major garments exporter, Preferential market access, reduce reliance on textiles made, Trans Pacific Partnership

American trade negotiators demanding Vietnam, a major garments exporter to reduce its reliance on textiles made in China, which isn’t part of the trade pact, to get preferential market access to the U.S. The Senate is expected to pass on Wednesday legislation to expand President Barack Obama’s trade-negotiating powers after a bruising battle that has put pressure on proponents to show that the 12-nation Trans-Pacific Partnership will create jobs in the U.S.

Related Keywords: apply to signatory countries, fabric produced from yarn, fiber manufacturing operations, involves twelve countries, made by TPP country, PSF, qualify duty free status, starting up or expanding, Trade agreement, Trans Pacific Partnership, under negotiation, United States led, US Trade Representative, Vietnamese companies, Yarn forward rule

United States led trade agreement Trans-Pacific Partnership (TPP) which involves twelve countries, is presently under negotiation. A key part of the proposed TPP is a rule known as “yarn forward” which would require that only fabric produced from yarn made by a TPP country would qualify for the trade agreement’s duty-free status. The rule is intended to ensure that the trade benefits of the TPP only apply to signatory countries rather than outside players such as China. However, the rule also likely to have major effects on signatory countries, such as Vietnam.