Denimsandjeans is holding its 3rd edition of International Denim & Sportswear Supply chain show on June 27-28 at Riverside Palace, Ho Chi Minh City, Vietnam. Buyers may register at here to get an official invitation.

TPP And EU-FTA Scheduled To Be Signed In Early 2018, Vietnam Gears Up For Another Historical Paradigm Shift In Its Trade

The much awaited TPP is on the way and is going to be signed on March 8 in Chile despite President Trump ditching it. After the unprecedented exit of US from the TPP, its fate was in jeopardy but due to continuous efforts by all the remaining stakeholders , TPP finally seems to be coming into picture and even without the United States, the rewritten pact will create a market of 495 million people and a combined annual economic output of $13.5-trillion (U.S.) or 13.4 percent of global GDP, While this is significantly less than the TPP’s combined $28 trillion and 36 percent of global GDP, it will still be one of the biggest trade agreements in the world.

EU Vietnam FTA

Vietnam is understood to have earned US$31 billion from exports of textile and garment this year, a ten per cent increase compared to last year. A report of The Vietnam Textile and Apparel Association (VITAS) shows that in 2017, Vietnam’s exports of garment products to the US reached US$12.53 billion, 9.4 per cent higher than 2016; the figures for EU and Japan are estimated at US$3.7 billion and US$3.05 billion respectively.

“The EU remains fully committed to invest in the development of the country, as our strategic partnership goes beyond trade issues and development cooperation,” Bruno Angelet, the EU’s ambassador to Vietnam, told OBG. “Vietnam is a now a benchmark for the other ASEAN countries that are willing to engage in FTA negotiations with the EU.”
“The EU remains fully committed to invest in the development of the country, as our strategic partnership goes beyond trade issues and development cooperation,” Bruno Angelet, the EU’s ambassador to Vietnam, told OBG. “Vietnam is a now a benchmark for the other ASEAN countries that are willing to engage in FTA negotiations with the EU.”
When EVFTA will be implemented, it would become one of the most ambitious and comprehensive investment agreements that have been signed between the European Union (EU) and a developing country. After the agreement is put into effect, Vietnamese enterprises can get access to a potential market with the population of more than 500 million people and the total Gross Domestic Product (GDP) of US$15,000 billion which accounts for 22 per cent of global GDP. By contrast, investors coming from EU can enjoy a market that has the most rapid economic growth in the region with the population of more than 90 million people. Economic experts said that once it will be approved from the parliament and implemented, it will contribute about 2.5 per cent to Vietnam’s GDP in 2020 and 4.6 per cent in 2025.

“We knew that TPP will come back and what a comeback! We are more than happy now as both TPP and EVFTA are getting singed this year and this will definitely take Vietnam’s export on next level, especially Textile and Apparel. Our Exhibitors will be surely benefited from this as they will get to meet the buyers from all important regions at our show which is scheduled on June 27-28,” said Mr. Sandeep Agarwal.