On 3/15 ~ 19, 2010, the first round of negotiations for the Trans-Pacific Partnership (TPP) Agreement opened in Melbourne, at the time there were only eight countries involved in the negotiations. After five years of negotiations, Brunei, Chile, New Zealand, Singapore, Australia, Malaysia, Peru, the United States, Vietnam, Mexico, Canada and other countries, on October 5, 2015, completed in Atlanta, USA, an historic substantial negotiation, and being reputed to have set a record for the regional free trade agreements with the highest specifications and the largest scale in history.
Once the agreement was signed and executed, if country implementing the TPP cuts the tariffs on textile imports to 0%, when Vietnamese textiles are exported to these countries, there will be more operational opportunities. Currently US tariffs on Vietnamese textile are 5% -25%, after TPP comes into effect, tax rate will be reduced to zero, and the amount of Vietnamese textile exports to the US is expected to double within five years.
I. Preface
II. Textile trade between TPP member countries
III. TPP’s effect accelerates textile investments in Vietnam
IV. The impact on Taiwan’s textile industry
V. Conclusions
Table 1 TPP member countries trade situation in textile and apparel with Taiwan