How sure are some corporations that the TPP will pass? This sure: [View all]

[cali]

Foreign investment in Vietnam’s textile and garment sector is increasing rapidly as international firms seek to take advantage of benefits the country will potentially derive when the Trans-Pacific Partnership (TPP) Agreement becomes a reality.

Several companies from Chinese Mainland, China’s Hong Kong and Taiwan, Japan, US, South Korea have made large investments in the sector since the beginning of this year, according to the local Finance Times newspaper.

The textile and garment industry in the TPP member countries is expected to benefit the most from the trade deal. Specifically, products made from domestically sourced materials or imported from other TPP member countries will enjoy Zero tariff when being exported to signatory countries.

According to the Vietnam Textile and Apparel Association, up to 60% of the country’s textile and garment exports go to member countries.

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http://www.livetradingnews.com/foreign-textile-firms-invest-in-vietnam-ahead-of-tpp-enactment-58277.htm#.U7lAmUAnPfY