The EVFTA Agreement will ensure that Vietnam gets a competitive advantage over China.
Ho Chi Minh City, Vietnam, Sept. 27, 2020 (GLOBE NEWSWIRE) — Vietnam is quickly being recognized as one of the fastest clothing and apparel manufacturers in the world. Despite being a developing nation, Vietnam is capable of producing high-quality goods with low production costs.
The country has dedicated over 2.3 million people towards the clothing and textile industry. This industry adheres to the dynamic market demands and rates while operating efficiently.
Existing factories in China are becoming overcrowded. This allowed their manufacturing expertise to spill over borders into Vietnam. Multilateral free trade agreements such as TPP and EVFTA have also encouraged industry growth.
The EVFTA Agreement will ensure that Vietnam gets a competitive advantage over China. This enables them to enjoy