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Apparel exports can cross 2008 figures – Industry Ministry
21
Jul '09
“If real efforts are put in, apparel exports can touch US $10 billion in the current year, up by $900 million from the previous year's figure”, said the Vice- Minister of Industry and Trade Mr Bui Xuan Khu.

This resurgence in expectations has come about on the back of a revival in export orders in the last 2-3 months, more particularly from the Japanese market with whom, Vietnam has recently signed a free trade agreement.

The Director General of Vietnam Textile and Garment Group (Vinatex), Mr Vu Duc Giang recently said that apparel exports in the first half of 2009 stood at $4 billion, down by just 4.7 percent when compared with the same period of 2008.

However, he added by saying that, in the context that the world's demand for garment products fell by 15 percent in Jan-June, that of Vietnam only dipped 4.7 percent is a big achievement and that many of big companies have actually posted high net profits.

Many of the garment export companies have reported of a surge in orders from the beginning of the second quarter, more particularly in month of June, and most of them have orders in hand which will see them through the third quarter.


Fibre2fashion News Desk - India

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