Composite Fabric,bonded fabric,Lamination Fabric Lamination Fabric News FTA will bring more growth momentum to Vietnam’s textile and clothing exports

FTA will bring more growth momentum to Vietnam’s textile and clothing exports



According to a report by Vietnam’s “People’s Daily” on February 26: Vietnam’s textile and clothing exports surged in 2014, reaching US$24.5 billion, a year-on-year increase of 19%,…

According to a report by Vietnam’s “People’s Daily” on February 26: Vietnam’s textile and clothing exports surged in 2014, reaching US$24.5 billion, a year-on-year increase of 19%, the largest increase in three years. It is expected that various free trade agreements (FTAs) that have been reached and will be reached in 2015 will bring more growth momentum to Vietnam’s textile and apparel exports, with exports expected to reach US$28-28.5 billion.

According to reports, among the global textile and apparel exporting countries (regions), Vietnam became the country (region) with the fastest export growth at a growth rate of 19% in 2014. Among export destinations, Vietnam’s textile and apparel has a firm foothold in key export markets such as the United States, Japan, and South Korea, with exports of US$8.55, 2.38, and 196 million respectively. It continues to grow in markets such as China, Canada, and Russia. It is reported that in 2015, Vietnam will formally sign FTAs ​​with South Korea, the European Union, and the Russian-Belarus-Kazakhstan Customs Union. After signing, the tax rate on textile and apparel products will be reduced from an average of 10% to zero, which will play a positive role in promoting Vietnam’s vigorous entry into these markets with huge potential.

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