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Competitive pressure from Asian textile exporters, Khu

Mar '07
Association of Southeast Asian Nations' (ASEAN) Federation of Textile Industries (AFTEX) conference was organized by Vietnam Textile and Apparel Association (VITAS) last Friday, 9 March, 2007 in Hoi An.

Deputy Minister of Industry Bui Xuan Khu, present at the meet, said that strong trade relations with Southeast Asian textile industries was crucial for Vietnam's healthy growth.

He urged AFTEX to aggressively participate to develop co-operation and competitiveness of every industry.

It was necessary to expand textile and garment exports to the EU, Japan, South Korea and Taiwan.

With membership to World Trade Organization (WTO), Vietnam now attained unrestricted export access to the US and is open for direct and indirect foreign investment.

"The industry is more likely to attract further investment to build up its production infrastructure and facilities, and will then be able to modernise management and technology," said Deputy Minister.

In 2006 Vietnam's export turnover reached nearly US $6 billion, rising 24 percent.

"The biggest obstacle we are facing is the fierce competition from China, India, Pakistan, Bangladesh and other countries that can take advantage of a strong material and accessories base as well as product design and brand names in their countries" stressed Khu.

He also insisted that textile industry was still small scale and needed better product design and fashion, especially for well-known brands.

Textile and garment targets exports of $7.5 billion this year and $10 billion for 2010.

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