The US, Japan and the Republic of Korea are three largest importers of Viet Nam’s textile and apparel, accounting for nearly 70% of the total. The garment exports to these nations valued US$8.85 billion, US$2.38 billion and US$1.96 billion, respectively.
Large enterprises in the Viet Nam Textile and Apparel Association signed the export contracts till the first quarter of 2015.
Signed and pending free trade agreements (FTAs) are opening up a lot of good chances for the sector to grow further as import tariffs may drop to zero in many markets, said economists.
Tax incentives to be brought by the Trans-Pacific Partnership (TPP) Agreement, expected to be signed next year, will also create favorable conditions for garment businesses to expand their presence in the US market
