Thai textile and garment companies unable to reach free-trade in America want to open factories in Viet Nam in order to tap the U.S. market, according to the Vietnamese Trade Office (VTO) in Thailand.
|Setting up factories in Viet Nam, Thai companies can enjoy low labor costs.|
Thai companies said their competition in the U.S. market will face many difficulties as Thailand has yet to sign a Free Trade Agreement (FTA) with the U.S. this year.
Setting up factories in Viet Nam, Thai companies can enjoy low labor costs, about 20-30 percent lower than in Thailand.
In addition, Viet Nam’s impending entry into the World Trade Organization (WTO) and plan for reaching an FTA with the U.S. will facilitate U.S. market access for Thai companies operating in Viet Nam.