TPP Winner: Vietnam Garment Industry
The Pan Pacific Strategic Economic Partnership Agreement (TPP) formally signed the agreement early this month.
Analysts say that once the agreement is ratified and ratified by national parliaments,
Vietnam?
The clothing industry is expected to become a big winner, and TPP is promoting Vietnam.
Exit
At the same time, the economic growth will also lead Vietnam to undertake China's industrial pfer.
In February 4th, TPP made substantial breakthroughs.
The 12 countries of the United States, Japan, Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam formally signed in Oakland, New Zealand.
TPP protocol
。
Together, the 12 countries account for 40% of the global economy, more than the European Union.
According to the world trade organization, the United States imports tariffs on footwear from Vietnam up to 48%, and other items of clothing industry tariffs are nearly 20%.
Once the TPP comes into effect, Vietnamese companies will enter the United States without tariffs, as well as other large markets that do not have free trade agreements with Vietnam, such as Japan and Australia.
This will promote the demand of Vietnam's main processing products and create a large number of new employment opportunities in China.
The industries that benefit most are
clothing
Footwear and textiles, which accounted for 26% of Vietnam's total exports in 2014.
In addition, the clothing products of Vietnam and other TPP members should comply with the rules of origin, that is, raw materials such as
Cotton yarn
The need for local or TPP members will benefit Vietnam's upstream manufacturers of garments.
Textile producers based on China will respond to rising domestic labor costs and will further expand to Vietnam and pfer industries.
According to Eurasia Group, the world's largest political risk consulting firm, TPP could increase Vietnam's economic growth by 11% before 2025, while exports grew by 28% during the same period.
Pedersen International Economic Research Institute said that after the signing of TPP, Vietnam's revenue and exports will grow by 13.6% and 31.7% respectively.
China's exports will decline by 1.2% due to the trade diversion of TPP.
China's Ministry of Commerce, citing Vietnam's Ministry of industry and trade, said that TPP will promote the growth of Vietnam's textile, footwear and agricultural and aquatic products exports, and that textile and shoe-making products will increase by at least 20%.
Vietnamese media reported that Vietnam's exports of clothing and textiles to TPP members accounted for 70% of the total exports of similar commodities.
After the entry into force of the TPP agreement, Vietnam's exports to the market are expected to increase by 1 times.
By 2025, Vietnam's exports to the United States will reach $55 billion.
Wu Huihuang, Minister of industry and trade of Vietnam, said in a press conference at the end of negotiations last October, that TPP promised to implement the provisions of TPP.
Wu said that the textile and garment industry is a labor-intensive industry.
After the entry into force of TPP, the export of Vietnam's textile and garment industry will increase rapidly, and the demand for labor will also increase.
This will help Vietnam solve the employment problem.
Vietnam is also participating in the negotiations on the regional comprehensive economic partnership agreement (RCEP).
If RCEP is successfully signed, Vietnam will also implement the terms of the agreement.
- Related reading
- Information Release of Exhibition | Wenzhou International Sewing Equipment Exhibition Is About To Open.
- News Republic | Piracy First Brand Single "Angry Birds" Domestic Shop Was Cold Shoulder
- leather shoes | After 45 Years Of Age, Men Must Wear Good Shoes For Their Economic Health Concept.
- Daily headlines | Check The London Olympic Uniform Eight Times.
- Local hotspot | Beijing Garment Enterprises Operating Hard Brands Have Been Discounted To Promote Sales.
- Recommended topics | Pick Stockings Are Exquisite, Wear Sexy Legs, Do Not Worry.
- Daily headlines | Luxury Stores Are Struggling For 2 Months.
- News Republic | When Do You Get Off The Cock Silk Camp In Guangzhou Fashion Week?
- Fashion blog | Clothing Knowledge: How To Properly Maintain And Wash Jeans
- Other | How Can Chinese Clothing Enterprises Release Positive Energy During The London Olympics?
- Shanghai Ya Dongsheng Import And Export Co., Ltd. Qingdao Branch: Customer First, Honesty First.
- Before And After The Spring Festival, Sales Of Fabrics Are Polarized.
- Why Is It So Hard For Cotton Companies To Lose Money?
- It'S Not That Your Product Is Not Good Enough To Sell. Maybe The Creative Director Is Not Enough.
- Shanghai Cai Hui Printing Technology Co., Ltd.: Quality Is The Life Of An Enterprise.
- China'S Textile And Clothing Exports Declined In January 2016.
- Net Red Sprout Baby Suck "Zan" Magic Device To Stir Up Hot Children'S Clothing Market.
- Online Celebrities And Costumes Suspected Of Infringement Of Purchase Need To Be Cautious
- Bob Li Also Played A Game Of Price Deception?
- Document Writing And Processing: Examination And Approval