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EU – Vietnam Free Trade Agreement (EVFTA) – How can the Vietnamese growing textile and apparel industry benefit from this agreement?
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Bachelor's thesis
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en
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64 + 14
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Abstract
Objectives
The main objective of this study was to analyze how free trade agreements can pose different advantages and obstacles for a developing economy. Thereby, the study looks to propose recommendations on how the Vietnamese growing textile and apparel industry can benefit from the EU – Vietnam Free Trade Agreement (EVFTA).
Summary
A case study was developed to investigate aspects such as the Vietnamese government and businesses’ policies, initiatives, and efforts to harness the advantages and overcome obstacles of EVFTA to develop the industry. The study aimed to analyze the overall positive effects and momentum for growth the free trade agreement can create on the emerging textile and apparel industry. The case study consisted of primary data from interviews of experts and businesses along with the use of secondary literature, all analyzed from an interdisciplinary viewpoint for better insights.
Conclusions
The Vietnamese textile and apparel industry has gained substantial standing in the world’s market and acts as an important chain in the global value chain. The EVFTA is expected to create impact and make the outlook on the industry’s growth even more positive even though there are many obstacles to overcome. To take full advantage of EVFTA, the government and businesses should seek improvement in product marketing, applying innovative and green production technologies into the manufacturing process, and exploring possible cooperative opportunities for more productivity.