• Skip to primary navigation
  • Skip to content
  • Skip to primary sidebar

VietNam Breaking News

Update latest news from Vietnam

  • About Us
  • Privacy Policy
  • Disclaimers
  • DMCA
  • Contact Us
  • Submit your story

You are here: Home / Economy / Vietnam’s garment and textile sector will benefit from new FTAs

Vietnam’s garment and textile sector will benefit from new FTAs

November 20, 2018 hanoitimes Leave a Comment

The Hanoitimes – However, if China joins the CPTPP, Vietnam and the rest of the CPTPP countries will face fierce competition because China is the top ranked global textile exporter in both volume and value. Special tax preferential commitments under new-generation free trade agreements (FTA) will offer Vietnam huge opportunities to boost its textile and garment exports, experts said.   The CPTPP sets strict requirements on product origin One of the key contents of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is the removal of 95-98 percent of tariff lines as soon as the agreement enters into force. The remaining tariff lines will be cut over the next seven years, poised to aid the growth and export turnover of the two industries. According to the Vietnam Textile and Apparel Association (VITAS), the CPTPP will help Vietnam accelerate its growth and make the export market more balanced. The zero-percent tariffs will help the country’s textile and garment industry expand market share in countries with current high tax rates. As for the EU-Vietnam Free Trade Agreement (EVFTA), Managing Director of Vietnam’s largest textile and garment producer Vinatex Cao Huu Hieu said that the EU is currently the second largest market of Vietnamese textiles and garments after the US, with a growth rate of 7-10 percent yearly. Therefore, when joining the EVFTA, the sector’s exports to this market are forecast to surge sharply thanks to a lot of tax incentives. Experts estimated that the EVFTA is expected to provide the same… [Read full story]



  • Garment-textile sector seeks to optimise opportunities from CPTPP
  • Garment-textile sector raises export target to 35 billion USD
  • Garment-textile sector earns 8 billion USD from exports in Q1
  • New FTAs to bring benefits for garment-textile sector
  • FTAs promise bright prospects for Vietnam’s garment-textile
  • Garment-textile sector regains confidence of foreign investors
  • Garment, textile sector urges more government support
  • CPTPP, EVFTA help Vietnam’s garment-textile lure investment
  • Garment, textile sector welcomes trade pacts" opportunities
  • Garment & textile sector, magnet for foreign investors

Economy Vietnam National Textile and Garment Group, vietnam saigon textile & garment industry expo, garment textile jobs, garment textile industry, textile sector skill council, textile sector in bangladesh, textile sector report, Textile Sectors, textile sector, Textiles Sector, benefit vietnam, sector new york coast guard, sector new york, vietnam new express, vietnam new years eve 2018, vietnam new cave, new benefits, Vietnam New, vietnam new year, consulate vietnam new york, vietnam veterans benefits hearing loss, visa vietnam new york, new home buyers benefits, vietnam visa new york, sectors that benefit from rising interest rates, vietnam visa new zealand, vietnam veterans benefits social security, Economy, Hanoi Times, mCMS, www.onip.vn

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Categories

ASEAN business Culture development East Sea Economic Economy education environment Finance Foreign Affairs government Hanoi HCMC Health Ho Chi Minh City International INVESTMENT LIFESTYLE Market Nation National Natural Resources News Other People Photo Politics Science Social Affairs society Southeast Asia sports Technology The Government The Vietnamese Tourism Trade travel Uncategorized Vietnam Vietnamese Viet Nam News World World News

Recent Posts

  • Da Nang beach turns black with pollution
  • Vietnam airlines allowed to fly to US for first time
  • Deputy PM extends condolences to India over terror attack
  • Hanoi Muslims keep their faith in consonance with Vietnamese traditions – VnExpress International
  • BUSINESS NEWS IN BRIEF 15/2
  • VN’s top badminton player Vu Thi Trang joins HCM City team
  • FAA announces aviation safety rating for Việt Nam
  • Smuggled poultry risk spread of diseases
  • Ministry seeks to lower taxable prices of domestic cars
  • Pepper prices at record lows during harvest season

Copyright © 2019 VietNam Breaking News. Power by Wordpress.