CPTPP could be windfall for Vietnam textile industry

As for specific industries, according to Moody's, textiles will be one of the biggest beneficiaries of the CPTPP. The opportunities offered by the deal will also help Vietnam’s textile and garment industry increase export turnover by US$3 to $3.5 billion this year.

After the CPTPP comes into effect, a labour-intensive sector such as textile and garment will require changes, especially in the quality of labour. This will be an important factor in establishing the brand and quality of Vietnamese textiles and garments in demanding markets like Japan and Australia and achieving the export target of US$34 billion this year.