The Impact of Wto Accession on Textile Industry in Vietnam

The global financial crisis has affected severely on Vietnamese exports. After joining the WTO, Vietnam’s trade has become depend on global

The relevance of this book can be measured by its ability to speak to the everyday individual, who may or may not know anything about economics, and plant the seed toward global economic education. It provides a keen social awareness to people who may or may not ordinarily care about international economics and can have an eye-opening effect toward what really happens in the textile industry.

Although the Chinese apparel manufacturers would lose profitability due to rising cotton prices and competition from emerging countries, they stand to gain the most from the removal of U.S. quotas and tariffs. According to the author, in 2007, 95% of the 20 billion garments Americans made were purchased overseas. Due to U.S. trade barriers, China’s share of the U.S. apparel import was only 30%. Once these barriers were removed, Chinese apparel would flood the American market due to their low cost and dominance in garment manufacturing. Experts predict that China could eventually supply 85% of U.S. apparel. As they increase their market share in the

The World Trade Organization was created with a goal and ultimate objective set in mind. Its ultimate goal is to improve the welfare of peoples in the member countries. The objective is to help trade flow smoothly, fairly and predictably. In this paper you will learn what the WTO does, how it does this,

From this analysis, it is evident that price, while important, is not critical. While important, it is not consistent with the requirements of the customer. More importantly, we must consider

Brazil ranks as the fourth largest exporter in the world excluding export of cotton fibre and the second largest employer in the country. The Brazilian textile and fashion industry has 30,000 companies and it is worth up to $63bn. This industry produces 9.5 million garments every year. There is a higher demand for Brazilian designers such as Oskelin, Carlos Miele, and Alexander Herchcovich within the growing middle class society. Brazilian Fashion Designers Association (ABEST) was started less than 10 years and now they have 54 members exporting textile to 48 countries. However, Brazilian Textile and Garment Association (ABIT) imports 60% of the garments worth up to $1.450bn from China and it is a 500% increase since 2006. The board of ABIT has raise awareness about the Brazilian textile industry at a governmental level and offer assistance to become more competitive. The problem is the production cost levels and the cost of labour in Brazil is higher. In addition, the international trade rules and procedures of Brazil are more complex and the international trade is not supported by any international agreements. As a result, the domestic market of Brazilian textile industry only produces for local retailers and customers. Brazil is an interesting case among the developing huge producers of textile around the world with its solid local business sector (Pasquinelli, 2012).

According to the data, the total volume of textiles exported from China has started a continuous rapid growth since 2001 (the year of China’s accession to the WTO) as shown in the first graph above, which roughly

When Vietnam entered into the World Trade Organization, the country experienced a huge increase in foreign direct investments. Ever since, Vietnam has remained a population place for foreign investors to look into. The Ministry of Industry and Trade plays a leading role in dealing with international trade issues for Vietnam. The information that Vietnam has provided the World Trade Organization has been very absent regarding Import Licensing. However, since joining the Association of Southeast Asian Nations, Vietnam has taken advantage and exported many of its competitive products such as agriculture, textiles, footwear and furniture. Vietnam trade policy developments have really gave Vietnam some flexibility and as a result Vietnam has used this to their advantage in reducing variation in domestic energy prices to protect some important industries. Vietnam has also levied a special consumption tax on certain goods such as cigarettes, alcoholic, and gambling services to prevent less consumption. Vietnam’s accession into the World Trade Organization equalized tax rates on imported and domestic produced alcoholic beverages. One interest fact that I found out is that trade taxes account for approximately one tenth of total tax revenue for the government (WTO).

Concept forces the company to be more innovative since more people buy their products because of its beauty and symbols of their lifestyle. Expanding to service areas increase its innovation because CDS can learn from design houses collaborated and from customer’s requirements. Design house also expect full service, including fast and tailored distribution service from CDS; thus, it forces CDS to improve its availability. Quality of new products and services can partly be guaranteed due to high quality moulds ordered from

So, sales and marketing should talk to the customer and make sure they really need this project before we have to make material.

South Korea has been growing increasingly popular as an alternative production base for overseas manufacturers in the past years. Basic production industry’s benefit in terms of cheaper price of labor and land is now almost gone in South Korea. However niche regions are still available and good skill labor, technology and reasonable expenses are expected in terms of our company’s needs that should make skillful and cheap technology labor.

Ningchuan Jiang Visiting Professor. FedEx Global Education Center. UNC. Chapel Hill. NC 27599, USA Depart. Economics and Management, Chengdu Textile College, Chengdu 611731, China Abstract It has been more than five years for China’s entry into WTO. With the decrease of regulations of tariff barrier and non-tariff barrier, the export market of Chinese textile products has been expanded and the market shares have been increased, which arouses great attention of many countries in the world. Some countries increase the limit of import. What should be noticed is the more covert and more agile trade barrier, which

In comparison with the number in developed countries, €9 per hour in the UK for example, no wonder why big multinational companies all over the world have been trying to outsource to Vietnam. There are many factories along the country which are manufacturing final products for world top multinational companies. Nike, Adidas, Panasonic, Toyota, etc., all place their factories in Vietnam. In fact, when one goes shopping in Europe, it is no surprised to see a product of a famous brand with the “Made in Vietnam” label printed on it . Moreover, according to some latest research, Vietnam has a young population. It can lead to a more effective working force, compared to countries which have an old population, such as Finland and Japan. In the last decades, the literacy rate of Vietnam has been increasing steadily, from 88% in 1989, 90% in 1999 to 93,5% in 2009. More people get a bachelor’s degree nowadays, which leads to the improvement in the worker’s skill. Offering not only a strong flow but an efficient working force, Vietnam has been attracting more investors every year.

This paper seeks to look at Vietnam’s economy, financial sector, and political sector in respect to the textile industry. In an attempt to evaluate the feasibility of entering a foreign market, we focus our paper on a mid-sized company called Augusta Textile Company. This paper seeks to evaluate Vietnam’s potential for investment, particularly in the textile industry. While the company seeks to increase revenues and keep costs of production low, the company must look to expand to growing markets. However, various risks must be taken into consideration, as they can be great barriers to entry. The company looks to expand with the least financial risk, but greatest potential output and revenue. In evaluating the textile industry in Vietnam,

Till the year 1985, development of textile sector in India took place in terms of general policies. In 1985, for the first time the importance of textile sector was recognized and a separate policy statement was announced with regard to development of textile sector. In the year 2000, National Textile Policy was