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CPTPP to boost Vietnam’s exports to Australia

According to the views expressed in a workshop held in Hanoi in May 9, 2018, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) agreement will to boost Vietnam’s textiles and garment exports to Australia to double-digits.

The workshop, jointlyheld by the Vietnam Textile and Apparel Association (VITAS) and the IEC Group of Australia, focused on measures to help Vietnamese textiles and garment enterprises increase exports to Australia.

The total textiles and garment import turnover of the CPTPP member countries, according to reports, exceeded 53 billion USD in 2017, of which Australia was the third biggest import market with total turnover reaching over 6.2 billion USD, accounting for 11.67 percent.

Vietnam earned over 4.8 billion USD from exporting textiles and garments to the other CPTPP member nations in 2017, making up 9.07 percent of the market share.