Garment exports on target

The textile and garment industry will meet its annual export target of
10.5 billion USD by November, said vice chairman and general secretary
of the Vietnam Textile and Apparel Association (Vitas) Le Van Dao.

Dao estimated that the industry would earn more than 1 billion USD each month in the fourth quarter.

September was the third consecutive month the industry fetched more
than 1 billion USD from exports, bringing the sector's total export
value in the first nine months of this year to more than 8 billion USD, a
year-on-year increase of 20.6 percent, according to the General
Statistics Office.

Dao said many garment exporters had orders for the end of this year and even for the beginning of next year.

Over the past nine months, exports to the big markets have recorded
high growth. Exports to the US increased 22.1 percent to 3.94 billion
USD while the rising figures to the EU and Japan were 6.7 per cent
and 14.3 percent to 1.18 billion USD and 691 million USD, respectively.

Exports to the Democratic People’s Republic of
Korea surged 64 percent thanks to the impact of its Free Trade
Agreement with ASEAN.

However, Pham Xuan Hong, Vitas
deputy chairman, said the garment industry was facing a shortage of
labour and an increase in the price of transport and power.

A surge in the price of cotton on the world market also had a negative
impact on the industry. A tonne of cotton has risen 45 percent since
the same period last year to 1,900-2,000 USD while the industry has to
import up to 95 percent of its cotton. The industry imported 260,000
tonnes of cotton in the first nine months of the year and estimates that
figure will reach roughly 370,000 tonnes by the end of the year.

Hong said garment exporters were seeking new sources from Japan
and ASEAN countries in order to enjoy preferential taxes.

To fulfil the target of 19 billion USD from exports by 2015 and 25
billion USD by 2020, the garment sector is actively implementing
programmes related to cotton cultivation to increase domestic supplies
and develop human resources to meet the increasing demands of the
sector.

The sector is also promoting its trademark
and setting up distribution networks nationwide to take a firm foothold
in the domestic market./.

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Garment exports on target

Workers make clothes for export at a factory in the northern province of Ninh Binh. The textile and garment industry is on track to reach its annual export target of US$10.5 billion by November. — VNA/VNS Photo Tran Viet

HA NOI — The textile and garment industry will meet its annual export target of US$10.5 billion by November, said vice chairman and general secretary of the Viet Nam Textile and Apparel Association (Vitas) Le Van Dao.

Dao estimated that the industry would earn more than $1 billion each month in the fourth quarter.

September was the third consecutive month the industry fetched more than $1 billion from exports, bringing the sector's total export value in the first nine months of this year to more than $8 billion, a year-on-year increase of 20.6 per cent, according to the General Statistics Office.

Dao said many garment exporters had orders for the end of this year and even for the beginning of next year.

Over the past nine months, exports to the big markets have recorded high growth. Exports to the US increased 22.1 per cent to $3.94 billion while the rising figures to the EU and Japan were 6.7 per cent and 14.3 per cent to $1.18 billion and $691 million, respectively.

Exports to North Korea surged 64 per cent thanks to the impact of its Free Trade Agreement with ASEAN.

However, Pham Xuan Hong, Vitas deputy chairman, said the garment industry was facing a shortage of labour and an increase in the price of transport and power.

A surge in the price of cotton on the world market also had a negative impact on the industry. A tonne of cotton has risen 45 per cent since the same period last year to $1,900-2,000 while the industry has to import up to 95 per cent of its cotton. The industry imported 260,000 tonnes of cotton in the first nine months of the year and estimates that figure will reach roughly 370,000 tonnes by the end of the year.

Hong said garment exporters were seeking new sources from Japan and ASEAN countries in order to enjoy preferential taxes.

To fulfil the target of $19 billion from exports by 2015 and $25 billion by 2020, the garment sector is actively implementing programmes related to cotton cultivation to increase domestic supplies and develop human resources to meet the increasing demands of the sector.

The sector is also promoting its trademark and setting up distribution networks nationwide to take a firm foothold in the domestic market. — VNS

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