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Garment exports post impressive growth in 2010

06
Oct '10
With over US $1 billion, worth garment exports last month, the country's overall RMG exports for the period January- September, 2010 has reached over $8 billion, which is 20.6 percent above the corresponding period of last year.

Vice President of the Vietnam Textile and Garment Association (VTGA), Le Van Dao said that, with such impressive growth he sees the textile and garment sector successfully meeting this year's export target of $10.5 billion.

The January to September period this year has witnessed a sizeable rise in exports to major markets. Where the EU market which was down due to recession, has started recovering, large orders have also started coming from the US markets.

Garment firms have booked sufficient advance orders, not just till close of current year, but even for the initial part of 2011, the official said. Also, influenced by the Free Trade Agreement between the RoK and ASEAN, exports to the Republic of Korea have also shot up.

However, in spite of the fact that the country has inked a FTA agreement with Japan too, however, its stringent norms as regards origin of products have not allowed the exports to rise.

Fibre2fashion News Desk - India


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