Preferential zero percent tariffs when entering foreign markets. This stage of the international integration process creates a huge opportunity for the Vietnamese garment and textile industry.
In order to receive these preferential import tariffs, garment and textile manufacturers must make use of materials originating in TPP member nations. Businesses are therefore striving to accelerate their rates of localization in the hopes of avoiding squandering such a valuable advantage.
The Government has approved a development strategy for the garment and textile sector until 2020, with a focus one establishing a supply chain that efficiently links businesses.