Textile firms say Vietnamese government is too a - sportstextiles: Lea SportsTextiles

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Textile firms say Vietnamese government is too ambitious over TPP

29/03/2016
Representatives of the Vietnamese textile industry have told the World Bank that the government in Hanoi has been over-ambitious in its targets for the industry and that many textile and garment companies are leaving the market.

In 2015, Vietnam exported $27 billion worth of textiles and garments. The government has said it expects big benefits from the Trans Pacific Partnership (TPP), but analysts have said Vietnamese manufacturers are too reliant on non-TPP suppliers of yarns and fabrics for this to become a reality.

Figures suggest only 10% of the yarn and 5% of the fabric Vietnamese manufacturers import are from TPP countries and analysts say garments made from non-TPP raw materials will not be entitled to the preferential tariffs the partnership promises.



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Vietnam’s textile exports rise but target may be missed 22/07/2016
US fabrics body endorses Trans-Pacific Partnership 23/06/2016
USITC releases report on impact of TPP 19/05/2016
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