US companies eye post-TPP opportunities in Vietn - sportstextiles: Lea SportsTextiles

News

US companies eye post-TPP opportunities in Vietnam

07/11/2017
The American Apparel and Footwear Association (AAFA) and the American Chamber of Commerce in Vietnam recently held a series of events in Ho Chi Minh City in support of US garment and footwear companies that are eyeing investment opportunities in the country outside of the seemingly doomed Trans-Pacific Partnership (TPP) agreement.

US President Donald Trump formally withdrew the US from the 12-nation agreement in January just days after taking office. Several of the other signatories have since signalled their intention to rework TPP without US participation, although Japanese President Shinzo Abe has said the agreement is “meaningless” without the US. 

Speaking at one of the events, Nate Herman, vice president of supply chain for AAFA, said Vietnam continues to surpass its rivals in export growth to the US despite not being involved in any preferential or free trade agreements. He added that the country’s garment and footwear exports to the US are likely to increase in the next few years, even without TPP. 

He explained that AAFA and US companies believe there are opportunities for investment in Vietnam as US retailers and consumers recognise the country’s strengths of quality, price and reliability. 

In October, the National Cotton Council of America (CCI) also held an event, Cotton Day 2017, in Vietnam. Its aim was to connect Vietnamese garment and textile companies with US partners, suppliers and experts. 

Related stories:

Higg Index to boost Vietnamese textile industry 02/07/2018
Vietnamese textile industry sets export target 08/01/2018
Strong end to 2017 for Vietnam’s garment and textile sector 18/12/2017
Vietnam textile association opposes minimum wage increase 06/10/2017
FWF holds Vietnam event to stop gender-based violence 02/10/2017
Textile industry could suffer after Vietnam minimum wage hike 30/08/2017
OIA sees NAFTA renegotiation as a good opportunity 16/06/2017
Vietnam’s fabric imports are on the rise 12/06/2017
New Vietnamese production plant for FENC 06/04/2017
Asian nations meet to discuss alternative to TPP 01/03/2017
FDRA “extremely disappointed” at TPP withdrawal 24/01/2017
China will be the winner after TPP demise 22/11/2016

Sportstextiles.com cannot be held responsible for content if the language setting is changed from English.

The translations provided by Google Translate are automated and therefore might not be accurate and may contain incorrect, offensive or misleading language. We offer this facility as a guide only.