After Vietnam Abolished 99% Tariffs, The Textile Industry Will Sprint $40 Billion For The Whole Year.

Vietnam is no longer the poor and backward country in the past, especially after Vietnam and the European Union signed a new investment agreement. Vietnam's economic development is even more rapid. In Vietnam and the European Union signed the latest agreement, we are most concerned about Vietnam and the European Union abolished 99% tariffs, since the date of entry into force, many tariffs were also immediately canceled.

Vietnam's extensive tariff cancellation has also attracted many other countries' investments and businesses. Vietnam has also become an economically developed country from an obscure economic small country. Vietnam is not only a large range of tariff cancellation but also attracts other countries. The low labor cost is also a temptation. After facing the pressure of China, Samsung, after closing the last mobile phone factory in Huizhou, transferred the final development direction to Vietnam and built the largest mobile phone factory in Vietnam.

It is precisely because of the low level of consumption in Vietnam, the low labor costs of workers, and the interests of enterprises. When Vietnam's influx of more investors and businesses, Vietnam's local residents have basically solved the problem of employment and economy. If a country wants to grow up, it can not do without the strong support of the economy. Only when the economy is the foundation, will the residents have the power to fulfill their dreams and independent research and development.

The new agreement signed between Vietnam and the European Union is a good policy for both the foreign countries and the Vietnamese countries. Vietnam's abolition of 99% tariffs can attract more investment and influx from other countries, while foreign investment and factory building in Vietnam. They also saved most of the customs duties and the low labor costs in Vietnam, and the profits of the enterprises could also be maximized. There is a double interest agreement for the investors' big business countries and Vietnam's countries. Of course, everyone is happy to sign the agreement.

Vietnam's stability in the market has continued to grow since a large number of foreign companies poured into Vietnam, especially in textile exports. In Vietnam, orders for many large clothing enterprises are in a state of hot popularity. Because Vietnam has cut the EU's non-tariff barriers, Vietnam has also opened the procurement market to EU enterprises. The opening of this policy has made great changes in Vietnam's textile industry in many countries, and Vietnam's export volume in textile industry is also soaring rapidly.

Under the influence of the full liberalization of the textile market, Vietnam is no longer a single us in the trading power. Since its entry into Vietnam, Japan's UNIQLO has been increasing its supply volume in Vietnam, which accounts for about 40% of the total. Vietnam's textile and clothing exports are rising steadily, which has reached about US $16 billion -180 billion. Coupled with the trade market, the optimization of the open policy and the massive tariff exemption, Vietnam's textile industry still has great hopes in its total export volume to $40 billion. How do we view this?