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Vietnamese garment sector strives to meet export target
12
Oct '12
The apparel and textile industry in Vietnam is toiling hard to achieve the US$ 18 billion export target set for the current year.
 
During the first three quarters of 2012, Vietnam has only been able to export garments and textiles worth a little over US$ 10 billion, owing to a fall in demand from key markets, according to Vietnam Textile and Apparel Association (VITAS). 
 
To boost Vietnam’s clothing and textile exports, the Ministry of Industry and Trade is conducting several trade promotion programmes in Thailand, Hong Kong and Malaysia, which are expected to prove beneficial to firms exporting high value-added shirts, suits and luxury pants.
 
In addition, VITAS is also gearing up to set up distribution chains for companies and it would also help them develop brand names.
 
Meanwhile, Vietnam National Textile and Garment Group (Vinatex) has also enhanced its exports to the Middle East, Turkey, China and Africa, and is also looking for new trade partners in Canada and South Korea.
 
Vietnamese textile entrepreneurs are modernizing factories to facilitate production of quality fabrics and items with high export profit margins, VITAS said.
 
To reduce polyester imports, Vietnamese textile industry has been producing its own polyester fabric, and is expected to be able to cater to 80 percent of the domestic requirements on its own by 2015, VITAS added.
 

Fibre2fashion News Desk - India

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