Apparel exports to Japan going great guns
August 10, 2009 - Vietnam
Despite the fact that, apparel exports to the US and European markets have slowed down, shipment to the other major market; Japan is going great guns and have been able to achieve a very good growth rate, unthinkable in current times.
Statistics from the General Department of Customs reveal that in the first six months of 2009, shipments from the apparel sector to Japan touched US $440 million, an increase of 22 percent, when compared with the same period of the previous year.
These growth rates have come no doubt on back of the Free Trade Agreement signed between the two countries which provides for zero duty access to Vietnamese products, instead of 5-10 percent duty which they attracted earlier.
Experts have advised the Vietnamese garment sector to concentrate on the high end value of the market since the Chinese manufacturers with a near 80 percent share of the Japanese clothing market are well entrenched in the mass clothing segment.
Deputy Chairman of the Vietnam Textile and Garment Association Le Van Dao said that if the current export growth rate continues, garment exports to Japan could well reach $900-1000 million in 2009 and cross $1.2 billion in 2010.