Related Keywords: Chinese investors, textile and garment, Vietnam
The Trans-Pacific Partnership (TPP) of which Vietnam is a member is in the final stretch of negotiations, will lower import taxes in many large member economies like the US, Canada, Australia, and Japan. China is not a member. Import tariffs in the US, the biggest buyers of Vietnam’s leading export, textiles, will be cut from 17-32 percent now to zero. Chinese firms have started making their move into Vietnam to set up garment and textile factories to take benefit of the TPP.
