Connect with us

Trade

TPP to drive manufacturing growth in Vietnam

As TPP signatories account for ~40 per cent of Vietnam’s total exports, the agreement’s passage will accelerate its exports to member countries as well as increase its total exports by an estimated additional $68 billion by 2025.

Published

on

The TPP will be yet another boost to Vietnam’s manufacturing growth, according to Mr. Michael Sieburg, Associate Partner at Solidiance Vietnam.

Vietnam, the second-smallest economy among the TPP member countries after Brunei, is set to be a major beneficiary as the agreement will increase investment in its manufacturing sector, deepen the supply chain, and accelerate export growth.

Textile and apparel industries will continue to be a main driver of Vietnam’s economic growth in light of the agreement being signed.

The TPP, a regional trade agreement among 12 countries that comprise ~40 per cent of global GDP and ~11 per cent of the world’s population, taps into a number of new areas such e-commerce, supply chains, and State-owned enterprises.

A recent white paper from Solidiance, an Asia-focused management consultancy firm, highlights a number of growth opportunities in Vietnam’s manufacturing sector in relation to the agreement.Further market access to already large trade partners such as the US and Japan will be central to driving the benefits for Vietnam’s manufacturing sector.

As TPP signatories account for ~40 per cent of Vietnam’s total exports, the agreement’s passage will accelerate its exports to member countries as well as increase its total exports by an estimated additional $68 billion by 2025.

Source: TPP to drive manufacturing

Click to comment

Leave a Reply

Business

Pandemic drives sea freight prices to record high

The Covid-19 pandemic, which initially brought global shipping to a virtual standstill, did not bode well for the industry and led to “an unprecedented drop in demand”

Published

on

UTCC: Thai export sector to be affected by US-China trade war

Container shipping prices have reached record highs some 18 months after the outbreak of the coronavirus pandemic which disrupted maritime logistics chains and drove demand sky-high.

(more…)
Continue Reading

Trade

Thailand and EU resume FTA negotiations

Thailand and the European Union (EU) are now back in talks to establish a Free Trade Agreement (FTA), for the first time since the initiative was put on hold in 2014.

Published

on

BANGKOK (NNT) – Thailand and the European Union (EU) are now back in talks to establish a Free Trade Agreement (FTA), for the first time since the initiative was put on hold in 2014.

(more…)
Continue Reading
Wise

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,153 other subscribers

Recent