The hottest free trade agreement opens the door fo

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The free trade agreement opens the door for Vietnam's clothing industry

the EU market is the second largest consumer market of Vietnam's clothing and textiles, second only to the United States market, but the ongoing debt crisis in Europe has triggered a slowdown in the textile and clothing industry. At present, Japan has replaced the EU as the second largest importer of Vietnam's clothing and textiles

the markets of the United States, the European Union and Japan have been the main markets of Vietnam's clothing and textile industry for several years. The United States is the largest importer, followed by the European Union market, and Japan is in the third place. In 2011, Vietnam's clothing and textile industry saw the growth of the Korean market, with exports of clothing and textiles to South Korea exceeding US $1billion, making South Korea the fourth largest importer of clothing and textiles

at the end of last year, Vietnam's exports of clothing and textiles to the United States approached $7.6 billion, accounting for 44.7% of Vietnam's total exports of clothing and textile industry. The export volume to the EU market is close to US $2.5 billion, accounting for 14.6%; Exports to Japan exceeded US $2billion, accounting for 12%; Exports to the Korean market reached 1.3 billion US dollars, accounting for nearly 8% of total exports

when the global financial crisis broke out, the EU market was hit hard. In 2011, the import volume of clothing and textiles in the EU was about 260billion US dollars, but it fell to 240billion US dollars in 2012. It is predicted that the import volume this year may fall to US $234 billion. Clothing and textile exporting countries to the EU market, such as China, India and Turkey, have experienced a sharp decline, while Vietnam has experienced negligible impact

in 2011, Vietnam exported US $2.8 billion of clothing and textiles to the EU market, and in 2012, it exported US $2.5 billion, a year-on-year decrease of 14%. This year, this figure is expected to continue to decline to $2.4 billion. In addition, exports of clothing and textiles to Japan are expected to exceed US $2billion. Obviously, this is an obvious problem for companies that mainly produce products for the EU market when the maximum load exceeds 3% - 5%

in April this year, this will not only help the overall level of the industry to be improved. Export data showed that Japan surpassed the European Union and became the second largest importer of clothing and textiles in Vietnam. This should be thanks to the free trade agreement between Vietnam and Japan, which came into force at the end of 2009. In addition, benefiting from low tariffs, Japan has reduced the number of import engineers and developers from China who can make correct decisions about the use of their products and the raw materials and processes used in production, which also helps Vietnamese clothing and textile companies enter and expand in the Japanese market

at present, Japan's annual total imports of clothing and textiles are about US $40billion, including more than US $31billion from China, US $2.1 billion from the EU market, and more than US $2billion from Vietnam. 3. Result evaluation: when both samples are not broken or have no broken lines, the import is more than US $2billion

experts said that the decline in EU market consumption was affected by economic difficulties. The European Union is still an attractive market, because the European Union is the second largest market in the world, and people there are willing to pay more money for clothes

in the past five years, with an export growth rate of 32%, Vietnam is considered to be the largest exporter and one of the countries with the highest export growth rate. However, the export growth rate of Vietnam's clothing and textile industry to the EU market is not as high as that to the United States, Japan and South Korea

Vietnamese companies and EU importers expect to increase exports of clothing and textiles to the EU market after the free trade agreement between Vietnam and the EU comes into force in 2015

Vietnam textile and clothing association said that the average import tariff of the European Union on Vietnamese clothing and textile products is 11.7%. The reduction of import tariffs from 11.7% to zero will certainly boost the morale of Vietnamese producers

clothing and textile companies said that despite the decline in exports to the EU market, they still like to make products for the EU market. Among the main export markets, the Japanese team has the strictest quality requirements, forcing manufacturers to invest more in technology, which is not affordable for any company. However, Japanese Importers were generous in their negotiations

although Vietnam is one of the world's five largest garment and textile industries, its total exports account for only% of the global import market. Vietnam's clothing and textile products account for only 8% of the U.S. market and only 1% of the EU market

among the four major export markets at present, Vietnam has a free trade agreement with Japan, is negotiating a free trade agreement with South Korea and the European Union, and is negotiating a Pan Pacific Partnership Agreement with the United States. Vietnam's clothing and textile industries currently have many opportunities to expand their export market share

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