VIETNAM SEEKS TO BOOST FABRIC PRODUCTION SO GARMENT-MAKERS CAN PROSPER FROM CPTPP DEAL
May 1st, 2019
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) took effect in December 2018, incrementally bringing down import tariffs for Vietnamese garments in a market with 495 million consumers across 11 countries.
But Vietnamese garment-makers are struggling to reduce costs to deliver pricing that is competitive enough to make the most of CPTPP. This is partly because of the CPTPP’s textile rules of origin (yarn forward) being the most difficult to satisfy of all the 16 free trade agreements in which Vietnam currently ...
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