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US apparel makers keen on investing in Vietnam

Vietnam continues to surpass rivals in export growth to the US in spite of receiving no benefits from any trade preferential programs or free trade agreements. In the first eight months of 2017, Vietnam exported over $30.16 billion worth of goods to the US.

However, the Southeast Asian country’s garment-textile and footwear exports to the US are likely to face difficulties in future due to tighter regulations on product safety in the US to reduce trade deficit. Vietnam is the second biggest exporter to the US, after China. The US’ imports of Vietnamese garment-textile and footwear grew 8.74 per cent and 11.83 per cent respectively over the past 12 months.

US businesses are seeking their own investment opportunities in Vietnam as their country has withdrawn from the Trans-Pacific Partnership. The American Apparel & Footwear Association and the American Chamber of Commerce in Vietnam held a series of activities in Ho Chi Minh City, including an international workshop on product safety and compliance issues.

 
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