According to the American Chamber of Commerce (AmCham), Vietnam is set to become the largest ASEAN supplier to the US by the end of 2014. Experiencing a staggering surge of 14.85 per cent last month, Vietnam stands at the second place behind China in terms of net garment exports. Currently accounting for 22 per cent of the ASEAN’s trade to the US, the country’s contribution is set to grow to 34.1 per cent by 2020. Meanwhile as the country negotiates the Trans-Pacific Partnership, a successful ratification will decrease trade barriers significantly. And this decreased trade barrier in conjunction with a skilled low cost labour and business conducive environment will drive Vietnam to the numbers predicted by AmCham.
