A number of yarn, weaving and dyeing projects in Vietnam have restarted after a period of postponement due to the US withdrawal from the Trans-Pacific Partnership (TPP). However, the textile & garment industry still faces difficulties.
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The Vietnamese textile and apparel industry attracted more than $750 million in FDI in the first six months of 2017, mostly from investment capital increases in existing projects, despite a reduced number of FDI projects in recent years and the US withdrawal from the Trans-Pacific Partnership (TPP) last January.
Thanks to the US President Donald Trump’s decision to withdraw from the Trans-Pacific Partnership (TPP), Cambodia’s domestic garment and footwear industry is expected to get a boost, according to the Garment Manufacturer’s Association of Cambodia (GMAC).
Malaysia’s textile division will grow by at least 30 per cent, thanks to a surge of investment when the Trans-Pacific Partnership (TPP) agreement comes into force, according to Rebecca Chiang, executive director, Malaysian Knitting Manufacturers Association (MKMA). The trade deal’s ‘yarn forward’ rule makes it mandatory to use TPP member-country produced yarn for TPP-made textiles in order to be covered by the agreement’s market access benefits
Exporters from TPP member countries will get preferential access in the US market vis-a-vis exporters from non-TPP member countries, i.e., India, writes Gaurav Agarwal.