Garment exports to the US likely to hit US$11 billion

Garment exports to the US have increased rapidly from zero to US$9.8 billion over the past two decades. With current robust growth, it is likely to reach US$11 billion this year.

Particularly, the export revenue may double after the signing of the Trans-Pacific Partnership (TPP), Dung forecast.

Businesses will enjoy many benefits from TPP, typically tariff cut.

Vietnam garment products are normally levied import duties of 15-16%, however, the duties will be cut down to 7-8% after the country joins TPP.