The US is a potential export market being targeted by many Vietnamese recycled fiber manufacturing enterprises when the Trans-Pacific Economic Partnership Agreement (TPP) takes effect.
Mr. Christopher Griffin – President of Sourcing at Magic (USA) said that Vietnam is ranked 2nd in recycled fiber exports to the US market with an export growth rate of 12.3% in 2014. It is worth noting that while countries exporting fiber to the US (including China) all have negative growth, Vietnam has still achieved quite high growth in recent years.
“Statistics of the market share of recycled fiber imports into the US market in recent years show that the market share of imports from Vietnam is gradually increasing while the market share of imports of these items from China is gradually decreasing. Not only that, the trend of shifting recycled fiber factories exporting to the US from China to Vietnam is increasing, because Vietnam has a cost advantage over China, in addition to In addition, the reputation of Vietnamese goods is also higher than that of China. This is an opportunity for businesses to expand production and build high-quality products,” said Mr. Christopher Griffin.
According to Ms. Nguyen Thi Tuyet Mai – Head of the Representative Office of the Vietnam Textile and Apparel Association in Ho Chi Minh City, currently more than 60% of Vietnam’s fiber products are exported to the US and Japan – two key markets in TPP negotiations. with an average tax rate of over 17%. After TPP is signed, Vietnamese recycled fiber manufacturing enterprises will have many opportunities to increase exports to these countries with the promised tax rate of 0%. In addition, businesses can improve production and business efficiency to overcome the requirements of the Agreement and the technical barriers that countries are erecting to protect production of respective domestic industries.
To take advantage of the above opportunity, Mr. Nguyen Van Can – Head of Research and Development Department of Corporation 28 Company Limited said that this enterprise has sought a plan to co-operate with a Japanese partner (TPP member) to production of raw materials. According to the plan, Garment Corporation 28 signed a 10-year cooperation contract with Sotoh Group on wool fabric production. Sotoh will invest in equipment and output for high-end fabric products, while Corporation 28 will take care of factory premises and production. From the new cooperation agreement, this company expects that the traditional markets under TPP will increase to 60% in the near future, currently accounting for 30%.
Similarly, Mr. Ho Viet Toan – Assistant Director – Toan Thinh Silk Weaving Co., Ltd. also said that in the near future, Toan Thinh will expand export markets to TPP member countries, focusing on US market. To solve the problem of standard raw material sources when entering this market, Toan Thinh must import wool from Woolmark – a non-profit enterprise, owned by more than 25,000 sheep farmers in Australia. At the same time, the company also joined hands with Woolmark to produce wool scarves for the Australian market in 2016.
However, the Vietnam Textile and Apparel Association believes that to make good use of this opportunity, we must strengthen the connection between domestic and industry manufacturers with raw material suppliers to take advantage of finished products. Only then can Vietnamese enterprises satisfy their origin and benefit from TPP as well as other free trade agreements.
About Polyester Staple Fiber Manufacturer in Vietnam: VINAFIBER Co., Ltd
VINAFIBER factory was located in An Hung Commune, An Duong District, Hai Phong City, Viet Nam. Our main products are Recycled Solid Polyester Staple Fiber, Hollow Conjugated Polyester Staple Fiber, Siliconized or Non-Siliconized, thickness 3D/6D/7D/15D/20D with cutting length 32/38/51/64/76 or do as clients’ request. With a factory area of 15 hectares, the number of employees is 300 people, and the fiber factory capacity is about 2,500 tons per month. Production of solid fibers, and hollow fibers, with or without silicone according to customer needs.
The goal is to become an international manufacturer of recycled fibers, VINAFIBER always ensures the best quality for customers, continuous improvement to meet different customer requirements, and improves production capacity and production efficiency. We look forward to working with you for a long-term and mutually beneficial relationship.
Please contact us for long-term cooperation!
Mr. BRYAN
Tel: 084-932588856
Email: bryan.vinafiber@gmail.com
Website: vinafiber.ltd
Youtube: VinafiberRecycledFiber
Alibaba Store: vn19042023935wprx.trustpass.alibaba.com
