Garment, Textile Export Jumps 32.7 Per cent

The garment and textile export turnover in the first six months of this year increased 32.7 per cent to US$2.7 billion, fulfilling 51.7 per cent of the target set for the whole year, according to the Vietnam Garment and Textile Corp. (Vinatex).

 

Apart from the US and the EU markets, the market shares of the Vietnamese garments and textiles are also being expanded in Japan, South Korea, Russia and Canada.

 

In addition, the US and EU’s imposition of protection measures against Chinese garments and textiles from early 2006 was also a chance from Vietnam to consolidate and expand its market shares in these markets.

 

The automatic visa granting mechanism and guarantee mechanism have created more initiatives for enterprises to sign and fulfil export orders of quota-imposed items.

 

At present, the competitive edge f the Vietnamese garments and textiles remained low compared with several other countries like Bangladesh, India, China and Indonesia because the selling prices of its products was still quite high, mainly due to high intermediate fees (customs clearance time, shipping costs, warehouse fees). In addition, the unstable workforce also triggered hardships in fulfilling contracts for enterprises.