A recent survey by the Thailand Trade University indicates that Vietnam will able to enjoy a better market share to the markets of US, EU and Japan in the near future.
This warning comes from the fact that, the US plans to establish Trans-Pacific Partnership (TPP) agreements with New Zealand, Australia, Singapore, Brunei and Vietnam in the future, which is akin to a Free Trade Agreement (FTA).
Experts aver that that some of the country's main industries which include textiles and clothing, food processing and agriculture are losing out on their competitiveness to Vietnam and this proposed FTA could mean more trouble.
A clothing exporter is of the view that US importers will prefer to do business with the Vietnamese textile and clothing sector if the TPP agreement is finalized between the US and these countries.
Fibre2fashion News Desk - India
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