Home / Knowledge / News / Apparel/Garments / Vietnamese apparel exports to cross set target
Vietnamese apparel exports to cross set target
02
Jan '15
Exports from the Vietnamese apparel sector are expected to touch US $24.5 billion and thereby surpass the set target by nearly $1 billion.

“The garment and textile sector continues to top Vietnamese exports, mainly due to right strategies,” the Vietnamplus reported.

“This is because of joint efforts of the whole sector and also because of hiking percentage of locally made raw materials to 50 per cent,” Vietnamplus quoted vice president of VITAS, Le Tien Truong as saying.

Vietnam exports garments worth $8.85 billion to the US, $2.38 billion to Japan and $1.96 billion to South Korea, all of whom put together account for 70 per cent of exports from the sector.

Economists said that signed and pending free trade agreements (FTAs) are opening up a lot of good chances for the sector to grow further, as import tariffs may drop to zero in many markets.

Tax incentives to be brought in by the Trans-Pacific Partnership (TPP) Agreement, expected to be signed in 2015 are also expected to create more favourable conditions for clothing exports to the US market.

Deputy minister for industry and trade, Ho Thi Kim Thoa was of the opinion that companies should establish their own brands and also meet requirements on quality, chemical management and social responsibility. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Pakistan's Finance Minister Mohammad Ishaq Dar presenting Budget 2017-18 in National Assembly in Islamabad on May 26. Courtesy: PID, Pakistan

Textiles | On 27th May 2017

Pakistan Budget 2017-18 proposes 4 new measures

To support the textile sector in Pakistan, finance minister Mohammad...

Courtesy: IRRC Institute

Apparel/Garments | On 27th May 2017

Up to 7.5 mn retail jobs in US at risk due to automation

About 6-7.5 million retail jobs in the US are likely to be automated...

Textiles | On 27th May 2017

Indian textiles ministry promotes wool sector

The ministry of textiles has taken multiple steps to promote the wool ...

Interviews View All

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Suresh Patel
Sidwin Fabric

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search