According to Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association (Vitas), joining RCEP, Vietnam has a strategic market in Asia. Vietnam textile and garment will also benefit from three major benefits: The cost of shipping in bulk will fall far more than exports to the US or EU markets; Help businesses adapt to the supply of raw materials, create a large market space; A similar culture between countries will help negotiate and sign the agreement faster, as well as create incentives to attract investment within the bloc.
Concerned about competition, Vitas said: No concern, as Vietnam is currently exporting $ 1.8-2 billion annually to China. India's participation in the RCEP is advantageous because Vietnam does not have a free trade agreement with India, with the RCEP, the terms of the agreement will help Vietnamese textile and garment enter the market more easily. However, the issue of business concern is defenses and trade barriers. This is said to be a particularly effective "weapon" to protect the domestic production of the country, which is also a direct factor affecting the export activities of enterprises. For example, in 3 years (2014 - 2016), Vietnam exports a lot of color products to Turkey and to India. However, in recent times, these countries have introduced a number of trade barriers, technical barriers or anti-dumping measures.
In order to create an environment of equal competition for domestic enterprises, Vu Duc Giang suggested that the Ministry of Industry and Trade should soon study technical solutions or barriers to protect properly the products of water. There are signs of dumping in Vietnam market. In the textile and garment industry, when meeting technical barriers, it is necessary to quickly find solutions to transition to better-qualified markets. Defenses are the solution of state agencies, and with businesses, must be restructuring immediately to not be dependent on a market.
According to Giang, in the recent 3 years, there have been a number of garment exporters in the garment sector such as May 10, Viet Tien ... This will be a favorable factor for the textile industry itself. Believe in joining and making the most out of RCEP.
Mr Vu Duc Giang - President of Vietnam Textile and Garment Association: In the first two months of 2017, Vietnam garment and textile exports USD 4.3 billion, up 13.58% over the same period, import about 2.4 billion USD. With 50% surplus achieved, the textile and garment industry has shown the progress as well as the effectiveness of diversification strategy of export market.
