Vietnam’s economy has been growing quickly especially textile and apparel industry. Textile and apparel industry is an importance industry for Vietnam’s economy. In 2014, textile and apparel industry can make money for the domestic economy more than 19,180 million US dollars that rising from 2013 for 18 percent. Moreover, the GDP (Gross Domestic Product) in Vietnam has been increasing for 6 percent in 2014.
In this year, Vietnam becomes world's fourth largest textile exporter. According to Vietnam National Textile and Garment Group (Vinatex) said that in the first half of this year, they earned around 12,180 million US dollars from textile and apparel industry which increasing from this time of the last year 10.26 percent. They intend to get 27,000 - 27,500 million US dollars from export textile and apparel industry in the end of the year.
Most of textile and apparel from Vietnam were imported to the United States because Vietnam has sign the Trans-Pacific Partnership contract, a secretive and multinational trade agreement. This contract makes Vietnam can import their products to the country that has sign the TPP contract easily. The benefits that Vietnam has received from joining the TPP is a low tax rate for export their products to the markets of the countries in the group of TPP. To join the TPP also can attract foreign investment to the country. The United States require Vietnam to reduce using the material from China