Vietnam earned 6.75 billion USD from garment and textile exports in the first quarter of 2017, up 12.4 percent against last year, according to the Vietnam Textile and Apparel Association (VITAS).
Hanoi (VNA) - Vietnamearned 6.75 billion USD from garment and textile export🐻s in the first quarterof 2017, up 12.4 percent against last year, according to the Vietnam Textile and Apparel Association (VITAS).
Exports to new markets grew strongly, with Russia up 115 percent,Singapore 38 percent, Cambodia 36 percent and Brazil and India 34 percent. Traditional markets like the United States and the European Union sawmore humble export growth at 6.3 – 6.4 percent. The VITAS noted that traditional products grew by 13 – 17 percent whilenewer ones, including swimming suits, raincoats and scarves, increased by 18 –41 percent. New products and different ways to approach markets have resulted inhigher and more stable growth, while helping the industry rely less ontraditional partners, the VITAS said. The association forecasted exports to increase by 10 percent in thesecond quarter of the year based on the recovery of main markets such as theUS, the EU and Japan as well as the stability of the global economy andpolitics. The industry aims of a 10 percent growth to reach 31-32 billion USD inexport turnover in 2017. To achieve the goal, businesses have been encouraged to invest in newequipment and enhance competitiveness with new technologies. -VNA
With demand to import more than 10 billion USD worth of apparel products each year, Russia is a market with potential for Vietnamese garment-textile businesses.
Textile and garment companies of India are looking to promote trade cooperation with Vietnamese enterprises, said Indian Consul General in Ho Chi Minh City Smita Pant at a press conference in HCM City on May 10 to introduce the Textiles India 2017, which is slated for the Vietnamese city from June 30-July 2.
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Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Illustrative photo (Photo: VNA) 
