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Related Keywords: CCI, connecting Vietnamese firms, Cotton Day 2017, development, jointly organize event in Vietnam, latest information on global supply and demand for cotton, seminar and a fashion show, sustainable partnership, US Cotton Council International, VCOSA, Vietnam Cotton and Spinning Association, Vietnam garment and textile sector, Vitas

The Vietnam Cotton and Spinning Association (VCOSA), the Vietnam Textile and Garment Association (VITAS) and the US Cotton Council International (CCI) to jointly organize the Cotton Day 2017, the first of its kind event in Vietnam, connecting Vietnamese firms in the industry for sustainable partnership and development.

The event main aim is to connect Vietnamese apparel enterprises with partners and suppliers and gives Vietnamese companies the latest information on global supply and demand for cotton.

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: enjoying good growth in exports to the US market even without TPP, enterprises continuously made investment in machines and technology, forecasted to benefit greatly, from the Trans Pacific Partnership, holding second biggest market share in the US and Japan, improve productivity, reduce cost, Vietnam garment and textile sector, Vinatex

Vietnam’s garment and textile sector which is forecasted to benefit greatly from the Trans Pacific Partnership (TPP) is still enjoying good growth in exports to the US market even without TPP. Holding the second biggest market share in the US and Japan, according to Le Tien Truong, Director General of the Vietnam National Textile and Garment group (Vinatex).

Related Keywords: decade’s lowest growth level of 4.3 percent. Truong Van Cam, deputy chairman of Viet Nam Textile and Apparel Association, due to order shortage, likely to fail in achieving its export turnover target this year, lower its export target to $twenty nine million, sector will need basic, synchronous investment, Vietnam garment and textile sector

Vietnam garment and textile sector due to order shortage likely to fail in achieving its export turnover target of US$31 billion this year which will be decade’s lowest growth level of 4.3 percent. Therefore, Truong Van Cam, deputy chairman of Viet Nam Textile and Apparel Association (VITAS) want to lower its export target to $29 billion.

Related Keywords: attracting foreign investment flows, become worlds export center, export turnover expected to double in the time to come, growing demand for apparel, including Japan, Japan business federation, Japan second highest investing country, post TPP period, Vietnam garment and textile sector, Vietnam Japan investment and trade promotion forum

Vietnam’s competitive advantage has been strengthened to become the world’s export center, attracting foreign investment flows, including those from Japan. Speaking at the Vietnam-Japan Investment and Trade Promotion Forum held last year, Mukuta Satoshi, senior managing director of Keidanren (Japan Business Federation), said that Japanese firms had invested a total of US$37.3 billion in Vietnam as of the end of 2014, the second highest among all countries and territories investing in the country.

Related Keywords: benefit most from TPP, businesses striving hard to avail opportunities, enjoy zero percent tax, export to US, finding access to market, improving design, investing in modern production lines, Made in Vietnam products, product quality, upgrading facilities, Vietnam garment and textile sector

Vietnam garments and textile sector is viewed as one of the industries which will benefit the most from the Trans-Pacific Partnership (TPP), many businesses are striving hard to stay ahead to avail opportunities ushered in by TTP and have started proactively putting in place measures to be able to avail these opportunities such as investing in modern production lines, upgrading facilities, improving design and product quality and finding access to the market.