Vietnam's textile-garment exports may face challenges in H2 2022
22 Jun 22 2 min read
The seminar on sustainable cotton supplies was jointly held by VITAS and Cotton USA.
Giang attributed the results to the utilisation of free trade agreements, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) that has boosted the domestic industry over the past five years with its regulations on product origin.
Vietnam has emerged from a yarn importer to exporter, shipping abroad $5.6 billion worth of yarn last year, and some $3 billion in the first half of this year, he continued, noting that the shift was thanks to investments in technology and digital management.
- Businesses urged to prepare for EU’s new import control system ICS2
- Drewry Index soars; container freight rates up 11% this week
- US cotton exports decline from previous week: USDA
- Global supply chains now in Goldilocks Zone: GEP Consulting tracker
- Trans-Pacific air cargo market set for busier summer: Xeneta
The sector has also shifted towards green energy and water resources, thus better meeting international standards and winning confidence of customers.
Giang, however, said escalating inflation in the US and Europe would affect orders in the third and fourth quarters of the year, a news agency reported.
Meanwhile, the ongoing Russia-Ukraine conflict, along with surging oil and gas prices and transportation costs, would push up production prices.
Domestic enterprises said they have kept a close watch on the market to adjust their production plans, diversified material supplies and are seeking new clients to maintain production.
Fibre2Fashion News Desk (DS)
Popular News
|
Bangladesh 3rd largest apparel supplier for Malaysia this year |
|
Global cotton market witnesses steep decline in benchmark prices |
|
ICE cotton faces heavy selling; prices drop despite positive factors |
|
US textiles & clothing imports surge by volume in Jan-Mar 2024 |
|
China dominates as India's top yarn, fabric & home textiles supplier |
|
US’ small business optimism index rises in April 2024: NFIB |