Export potential of Vietnam’s garments, handbags and leather footwear to Australia was explored in a conference in Hanoi. The event, co-held by the Hanoi Investment, Trade and Tourism Promotion Agency and Australia International Exhibition and Conference Group, brought together over 60 businesses from garment, textiles, footwear and fashion sectors.
Besides the Hanoi-based business, the associations and organisations which have high export demand to Australia and New Zealand also attended the conference.
The participants were briefed on Southeast Asia’s garment and textiles market and Australia and New Zealand’s import potentials for garment, textiles and leather products.
The conference gave an opportunity to Vietnam export businesses to broaden their network with Australia partners, thus increasing availability of Vietnamese goods in the market, said Nguyen Mai Anh, deputy director of the agency.
Meanwhile, IEC director Julie Holt said Australia boasts great purchasing power although its population is less than the US and Europe, adding that Vietnam ranked second among countries exporting footwear products to Australia with export turnover of Australian $ 32 million.
The director also noted that Vietnamese firms should follow international standards to meet requirement of importers.
According to data from the General Department of Vietnam Customs, in the first quarter of 2017, two-way trade between Vietnam and Australia reached $ 1.35 billion. Vietnam exported $ 687 million worth of goods to Australia, up 8.3 per cent, while importing $ 665 million worth of products from the market, down 18.6 per cent compared to the same period last year.
During the review period, Vietnam raked in $ 50 million from footwear exports to Australia, up 24.6 per cent and $ 42 million from garment and textile products, up 13.6 per cent. (SV)
Fibre2Fashion News Desk – India