Vietnam'S Entry Into The Pan Pacific Economic Strategy Partnership Agreement Will Benefit The Ready Made Textile Industry
At present, Vietnam and the United States and 7 others.
Country
The consultations on the Pan Pacific economic strategy partnership agreement (TPP) are being carried out. When the agreement is signed and executed, Vietnam (and other Contracting States) will be able to enjoy the preferential tariff reduction to the total abolition of the goods exported to the United States, including Vietnam's textiles and footwear, which are more advantageous than other countries.
According to the recent consultations of the Pacific economic strategy partnership agreement (TPP)
news
The United States trade representative has recommended that the "Yarn forward" rules of origin be applied to Vietnam's textiles, that is, spinning and subsequent processing and production processes to identify the origin of the products.
In other words, if Vietnam wants to enjoy the preferential tariff of TPP agreement, the spinning and subsequent processing and manufacturing processes used in the textile industry, including weaving, cutting and sewing, shall be produced in the TPP contracting state, and only fibers are supplied by non TPP contracting parties.
According to Fang Rong, Dang Phuong Dung, Vitas, the Vietnamese clothing and Textile Association (hereinafter referred to as the "Vietnam clothing and Textile Association") will declare that when the rules for the origin of textiles are included in the implementation of the TPP agreement, it will be made to Vietnam.
textile industry
Those who are involved in the clothing and textile enterprises invested by Vietnamese businessmen in the United States are unfavourable, mainly due to the production process of these investments, mainly tailoring and sewing.
According to Tran Quang Nghi, general manager of Vietnam Vietnam garment and textile group (Vinatex), as of today, Vietnam accounts for more than 50% of the total amount of textiles exported to the world by the United States. If the TPP agreement is successful, there will be 95% kinds of Vietnamese textiles exported to the United States, enjoying 0% preferential tariffs.
Vietnam exported 7 billion 100 million US dollars of textiles to the United States in (2011), up 13% over the previous year.
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