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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: despite facing many challenges, European Union, exporting to key markets, FTA between the ASEAN region, over last year, set a target of seven percent growth, stands chance of achieving, total export earnings of over USD thirty billion, United States, Vietnam-EU Free Trade Agreement, Việtnamese textile and apparel sector

Việtnamese textile and apparel sector has set a target of seven percent growth over 2016, with total export earnings of over $30 billion. It stands chance of achieving its export target this year despite facing many challenges in exporting to key markets, such as the European Union (EU) and the United States, according to experts.

Related Keywords: Customs Union, Customs Union Russia, free trade pact, garment sector, TPP, Vietnam-EU Free Trade Agreement, Vietnamese textile industry, Vinatex

The Vietnam National Textile and Garment Group’s (Vinatex) deputy general director, Le Tien Truong during the conference in Ho Chi Minh city held to discuss the group’s public offering state that there is a growth witnessed in the garment and textile sector, its clothing exports have grown more than 15 percent annually since 2001 while the garments make up over two percent of global market share.