CPTTP to open doors for apparel exports to AustraliaThursday, May 10,2018
AsemconnectVietnam - Australia is considered a potential market for Vietnamese textile and garment exports, which are forecast to hit a double-digit growth after the signing of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
According to Truong Van Cam, VITAS Vice Chairman and Secretary General, the signing of the CPTPP will help elevate the current growth of textile and garment exports to Australia at just below 10% to a double-digit growth in the coming time.
Australia’s textile and garment import turnover surged by 3-5% annually over the past 5 years. In 2017, the country’s imports products from countries in the world reached US$9.32 billion. Vietnam’s garment exports to the nation stood at just US$173 million, equivalent to a mere 1.9% of its total textile import turnover.
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