Home / Knowledge / News / Apparel/Garments / Vietnam garment sector must explore new markets - Experts
Vietnam garment sector must explore new markets - Experts
14
Aug '12
Exploring new markets is the best way to boost the Vietnamese garment industry, said legislators and industry experts while speaking at a seminar held to ponder on the ways to increase the sector’s sales.
 
The seminar focusing on solutions to access resources and taking the local garment business to the international level was jointly organized by the Vietnam Textile and Apparel Association (VITAS) and Vietinbank, in association with Dun&Bradstreert (D&B) in Ha Noi.
 
Rising at a steady annual growth rate of seven to eight percent, Vietnam’s textile and garment exports reached US$ 9.3 billion over the past seven months, which is considered to be quite moderate as compared to the 22 percent growth achieved by the economy during the same period.
 
VITAS Deputy Chairwoman and General Secretary, Dang Phuong Dung, said the US, EU, South Korea and Japan were the key export destinations for Vietnamese apparels during the period. 
 
She said the country’s exports to South Korea have risen after the inking of a bilateral Free Trade Agreement (FTA) between South Korea and some of the ASEAN countries, including Vietnam.
 
During 2011, inflation was low and export orders were good, but this year, as the US is grappling against public debt crisis and unemployment problems, consumer demand has reduced, which has impacted Vietnam’s garment exports. In addition, the eurozone crisis has also badly hit Vietnamese garment exports.
 
In such a situation, exploring new markets would be the best way to boost demand of Vietnamese garments, said Ms. Dung. She said there is a need to enhance trade promotions to enable local apparel producers to better explore and penetrate in new markets.
 
Speaking at the seminar, Vietinbank’s Nguyen Thi Khanh Phuong said aiming to reduce reliance of garment exporters on foreign currencies, Vietinbank would help them balance their forex demand between garment and textile sectors, while ensuring payment ability and reducing the exchange rate risks.
 

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Applied DNA Sciences

Apparel/Garments | On 24th Feb 2017

SigNatureT DNA can help prevent apparel counterfeiting

SigNatureT DNA is forensic molecular tag by Applied DNA Sciences...

Textiles | On 24th Feb 2017

Pakistan's textile exports down 1.54% in July-Jan FY17

The value of textile and garment exports made by Pakistan decreased...

Courtesy: The Irish News/Christian Cowan (Google)

Fashion | On 24th Feb 2017

Google & Christian Cowan create 'really blue' jeans

Google has partnered with British fashion designer Christian Cowan to ...

Interviews View All

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search