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Home / Knowledge / News / Textiles / “Tap smaller markets” - experts

“Tap smaller markets” - experts

18
Oct '08

Vietnam

There are still a few optimists in Vietnam who believe that adversities created by the economic turmoil can be converted in to opportunities and that there is till hope to achieve the targets set for 2008.

Despite the crisis, exports to the US have maintained a steady growth; albeit lower than that of last year. Shipments to the US have grown at 17.8 percent in the period January-August 2008, which is considerably lower than 25.7 achieved in the same period of the previous year.

On one hand, exports to France have slowed down due to lower consumption; shipments to Belgium have also witnessed a dip of 12.56 percent in the period under review. Experts advise Vietnamese exporters to improve their competitiveness and in turn cut their prices to stay afloat and weather the storm.

This is the period they add by saying, when countries will try to put tariff barriers in order to protect their domestic industries. This is the time to diversify and explore new smaller and hitherto untapped markets of Asia, Africa etc., since the impact of the turmoil is going to be lesser than those in bigger markets, they aver.

Fibre2fashion News Desk - Vietnam

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