Trump Will Withdraw From TPP Vietnam On The First Day Of His Job.

In the first eight months of 2016, the amount of garments and textiles exported to the EU increased by 4.2% to $15 billion 500 million, and footwear increased by 8.1% to 8 billion 600 million US dollars.

Given the sensitivity of the industry, the EU - Viet Nam free trade area will be completely abolished after seven years.

The conditions of origin of the garments will stipulate that the cloth produced in Vietnam will not be used in the other free trade area of the European Union - the cloth produced in South Korea.

Vietnam's clothing exports in 2016 are expected to reach the target of US $29 billion, but if we want to exceed this goal next year, manufacturers must seek ways to reduce competition and cost.

Export value in 2016 was higher than $25 billion 700 million in 2015, but it was $31 million less than originally expected.

(VITAS) the deputy secretary general, Nguyen Thi Tuyet Mai, said: "

The problem is rising labor costs, which leads to an increase in costs.

This latest trend is also the reason for the pfer of orders from Vietnam to Kampuchea and Burma.

"

Vietnam is one of the five largest exporters of garments in the world.

Textiles account for about 10% of the country's total industrial output value.

Around 20%, a total of 2500 factories, employing a total of 2 million 500 thousand employees.

However, in order to increase exports, VITAS asked Vietnam's garment companies to upgrade their design standards and production management techniques, improve their productivity, pform their production mode from pure outsourcing to FOB, and provide more value-added to brands.

According to the association's statistics, in 2016, China was still the largest export market of Vietnam's textile and garment industry, accounting for more than half of its exports.

Exports to the US are estimated at $11 billion 400 million, up 4% from last year. The EU, Japan, India, Brazil, Russia and Canada were also the main importers of Vietnam's garment industry in 2016.

Vietnam is widely regarded as one of the biggest beneficiaries of the p Pacific Partnership (TPP), but everything has changed since the new US President Tang Na Trump announced that it had to withdraw from the p Pacific Partnership Agreement on the first day of its inauguration on the White House. (Donald)

However, once the EU - Vietnam Vietnam free trade agreement came into force in 2018, Vietnam gained the opportunity to enter the EU market.

The agreement will gradually eliminate tariffs of 99.8% of European products in ten years.

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The p Pacific Partnership Agreement (TPP) was formally signed in February 4th.

The 12 countries, including the United States, Japan, Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, signed the TPP agreement. After signing the agreement, each country will promote TPP in the country and free trade under the agreement.

The agreement covers 1/3 of the world's total trade.

We believe that TPP can bring advantages to Vietnam's textile and garment industry.

At present, the United States levying tariffs on 17-32% for Vietnam's clothing imports. After the signing of the TPP agreement, it will enjoy zero tariffs, while the United States levying 10-20% tariffs on China's clothing imports.

In addition, the clothing products of Vietnam and other TPP members need to comply with the origin rules - "starting from yarn" - raw materials such as cotton yarn need to come from local or TPP members.

Therefore, this may also benefit Vietnamese garment manufacturers.

Textile producers in China have been expanding to Vietnam in response to rising domestic labor costs and increasingly stringent environmental regulations.

TPP's substantial breakthroughs will benefit these companies in the long run.

In Vietnam, Hong Kong listed companies with large capacity or new capacity will include Hong Kong listed companies, 2313HK, 1382HK, 2678HK, 2111HK and underwear manufacturer.

For more information, please pay attention to the world clothing shoes and hats net report.