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Vietnam garment exports to US reach US$9.98bn in 11 months of 2015

Related Keywords: average rate at seventeen percent to zero, exporters currently pay for the US, garment products, higher than other TPP member countries, major export market US, material production regulation, tax value that Vietnamese textile, under TPP commitment, US to reduce the tariff for Vietnamese textile, Vietnam textile and garment exports

Vietnam's textile and garment exports to the US from January to November 2015 have reached US$9.98 billion, a year-on-year increase of 11.7 percent. It is expected to gain much higher with the Trans Pacific Partnership (TPP) taking effect. According to the Vietnam Textile and Apparel Association (Vitas), during the 11 months, Vietnam’s textile and garment export value to its other major export markets was also optimistic with $3.09 billion to the EU, $2.53 billion to Japan and $1.98 billion to South Korea.

VN garment firms proactively putting in place measures to capitalize on TTP

Related Keywords: accounts around sixty six percent, capitalize TPP benefits, cotton production line, export to TPP member countries, first nine month of this year, reach USD17.1 billion, TCM investing in weaving and dying garment factory, TNG, Vietnam textile and garment exports, VN garment firm putting in place measures

Vietnam's textile and garment exports reached $17.1 billion in the first nine months of this year, of which exports to the TPP's 12 member countries accounted for around 66 percent, according to the Ministry of Industry and Trade.

Sourcing pattern not been affected by shift in production base in China

Related Keywords: intra Asisan trade, Manufacturing shift, Sourtheast Asian countries, Southern China, Textile, Vietnam textile and garment exports

Manufacturing has been shifting away from the more expensive southern China to Southeast and South Asian countries such as Vietnam and Bangladesh. The shift is being led by textiles which may have increased intra-Asian trade but it will still take years to cause an impact on global sourcing patterns, according to trade finance bankers and fashion retailers.

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