Vietnam’s garments and textile exports now have an edge

Vietnam’s garments and textile exports to Japan must prove they have been made using Japanese materials. If they do they will be exempt from taxation, down to zero from the previous rates of 5-10 percent, following the signing of the Vietnam-Japan Economic Partnership Agreement.

Having more sources of favoured materials will make it easier for Vietnamese businesses to export garments and textiles to Japan. This advantage will almost certainly increase the growth rate of exports to Japan this year.

Vietnam’s garments and textiles exported to Japan this year are predicted to rise from US$900 million to US$1 billion, up 20 percent against last year’s figure.

Also according to the Vietnam Textile and Apparel Association, since early July, Vietnamese garments and textiles exported to Japan, which were made from Thai and Indonesian materials, also enjoy a tax rate of 0 percent.

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