Bright prospects ahead for Vietnamese denim exports
VOV.VN - Vietnam’s denim products have bright prospects for export growth moving forward with an influx of large orders and new investment projects, according to industry insiders.
This assessment was made by a representative of Balaji Enterprises of India, the organiser of the sixth Denimsandjeans International Exhibition on denim, non-denim, knitwear, and sportswear supply chain (Denimsandjeans 2024) which is slated to run from June 26 to June 27 in Vietnam.
In fact, Vietnam has exported more than 65 million to 70 million denim products each year, with the figure expected to increase by 2024 amid an influx of several large orders and more investments to take the full advantage of the EU-Vietnam Free Trade Agreement (EVFTA).
Most notably, the country has enjoyed numerous advantages from producing mid-range and high-end products in line with sustainable development standards.
Furthermore, the global geopolitical situation has also created a wealth of opportunities for the local denim industry, which is expected to grow by more than 10% per year over the next five and seven years.
The Denimsandjeans 2024 is expected to draw the participation of major denim manufacturers from over 10 countries around the world to introduce their major innovations in production activities with a focus on sustainable development.
The event also offered an opportunity for Vietnamese denim manufacturers to demonstrate their capability of providing denim products according to international buyers’ stringent requirements for sustainable production.
