Textile and clothing manufacturers have a tough time ahead as Vietnam joined WTO yesterday, i.e. October 26, 2006, becoming 150th member country.
In recent years, Vietnam has emerged as the leading Asian countries with rapid economic development followed by China.
Experts opine that Vietnam will strike Chinese textile industry and some Chinese production bases of clothing and shoes are likely to shift to Vietnam.
The rising of Chinese product level, raw materials prices and labour cost are some reasons; however main reason is that Vietnam textile and clothing will enter the US without any quota limit. At the same time, Vietnam also exports lots of textile and clothing to EU.
