The garment sector is likely to boom once the Trans-Pacific Partnership (TPP) is effective. (Photo: VNA)
(VOVworld) – The Los Angeles Times said the TPP will make it easier for Vietnam’s exports as tariffs in major TPP markets will be 0%. According to the Peterson Institute for International Economics, Vietnam will benefit most from the TPP as there will be more favorable conditions for Vietnamese staples such as garments, and textiles, and footwear. Vietnam is finalizing regulations on tax and investment, improving its infrastructure, and negotiating a number of trade agreements to attract more investment. Goldman Sachs Investment Bank predicts that Vietnam’s economy will jump from 55th to 17th in the world by 2025 with a GDP increase from 186 billion USD to 450 billion USD.