Home / Knowledge / News / Textiles / Africa a potential market for Vietnamese textiles: MOIT
Africa a potential market for Vietnamese textiles: MOIT
29
Jul '13
The African countries can be a potential market for exports of Vietnamese textiles, according to the Department of African, West Asian and South Asian Markets, in the Ministry of Industry and Trade (MOIT).
 
The agency said despite being a source of raw cotton, the textile industry has not developed in many African countries. Along with an increase in the population and income of the African people, the continent will become a big market for textile items, vov.vn reported. 
 
In 2012, Vietnam exported textiles, including fabric, to 38 African countries, valued at US$ 164.47 million, showing a rise of 17 percent year-on-year. Textiles were among the five largest items, in terms of turnover, exported by Vietnam to the African countries.
 
At present, China and India account for a major share of textiles supply to the African market. However, in recent period, some countries like South Africa have implemented the quota system for Chinese clothing, which provides a good opportunity for Vietnam to increase its exports to those markets.
 
Although Vietnam is counted among the top textile exporting countries in the world, the value of its textile exports to Africa remains relatively modest. According to the MOIT, Vietnam can increase its textile exports to Africa, as it enjoys competitive advantages like low labour costs compared to several other countries, and manufacturing of quality products.
 
The Department of African, West Asian and South Asian Markets said Vietnamese textile exporters should attend trade fairs, international exhibitions and conferences to directly meet the African importers.
 
In addition, Vietnamese businesses need to understand the customs, culture, business, import and export regulations, as well as the payment method in various African countries.
 
This becomes important, as most African countries benefit from preferential tariffs when exporting to the US and the EU. The African Growth and Opportunity Act (AGOA) allows duty-free imports of nearly all goods, including textiles, to the US from 48 countries of the Sub-Saharan Africa region.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Textiles | On 10th Dec 2016

Indian textile hubs adopt cashless payment modes

The textile ministry is promoting cashless payment within the...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Johan Berlin
InvestKonsult Sweden AB

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search