TPP-a great opportunity for Vietnamese clothing manufacturers

As China and its workers get wealthier, global manufacturers are looking south for less expensive places to do business. But Cambodia faces labor strikes. The Thai government suffers endless protests. Burma, also known as Myanmar, needs infrastructure updates. As a result, many companies are setting their sights on Vietnam.

                                                      A knit garment factory in Vietnam

“It is becoming such an important hub for American and European brands,” Jeanologia area manager Borja Trenor Casanova said of Vietnam.
The Trans-Pacific Partnership (TPP) helps, too. As one of 12 countries negotiating the trade pact, Vietnam stands to benefit most from a clause that would cut tariffs on textiles and apparel, which are among the nation’s top exports. The growth is reflected across the country. Textile exports increased 20 percent in the first quarter of 2014, compared with the same period last year, according to the General Statistics Office. This woule be a great opportunity for Vietnamese clothing manufacturers