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Vietnam Enters The World'S Top 10 Garment Exporters

2008/11/25 11:27:00 24

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A seminar in Hanoi reviewed the development of the garment and textile industry in the past two years after joining the WTO, and discussed measures to promote sustainable development of the clothing and textile sector.

The participants agreed that accession to the WTO would bring opportunities and challenges to Vietnam's clothing and textile sectors.

The quota of clothing and textiles has been abolished, and the export market has been expanded, so the scale of production has also been widened.

However, clothing and textile production units are facing fierce competition from foreign competitors.

Delegates also discussed the new trend of the world's clothing and textile market, and proposed measures to promote the sustainable development of the domestic garment and textile industry, including the development of the clothing market, the establishment of big brands, the simplification of customs procedures and the development of infrastructure, such as seaports, warehouses, etc., to promote the import of raw materials and the export of clothing and textiles.

Entrepreneurs should make joint efforts to increase productivity and minimize costs, in order to increase competitiveness.

At present, there are about 2 million workers in Vietnam's clothing and textile sectors. In terms of export volume, the clothing and textile sectors are second, second only to crude oil exports, accounting for 15% of Vietnam's total import and export turnover.

Last year, Vietnam's clothing and textile exports amounted to $7 billion 750 million.

Despite tremendous difficulties, the textile and clothing sector exported $6 billion 870 million in clothing and textile products in the first 9 months of this year, up 20% from the same period last year.

It is estimated that Vietnam's clothing and textile exports will reach US $9 billion 300 million in 2008, bringing Vietnam into the world's top 10 exporters of clothing and textiles.