Textile-garment export target of over US$34 bln achievable: VITAS
With the bright outlook of both global and domestic economies, the textile-garment sector’s exports target of US$34 – US$34.5 billion for 2018 is achievable, Vice Chairman of the Vietnam Textile and Apparel Association (VITAS) Truong Van Cam said.
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| The textile-garment sector targets US$34 – US$34.5 billion in export revenue in 2018 |
Many companies said they have been working to diversify export markets. Apart from the key markets like the US, the EU, Japan and the Republic of Korea, they are also stepping up export to China, Russia and Cambodia.
Cam said in the coming time, VITAS will push ahead with trade promotion programmes, specialised training, and experience sharing. It will also encourage the application of smart production models to help businesses boost sustainable development.
He noted that Vietnam’s textile-garment sector gained positive outcomes in Q1 amid the global economy forecast to post higher growth rate in 2018 and the stable domestic economy.
Textile-garment exports in Q1 are estimated at US$7.62 billion, up 13.35% from the same period of 2017. Of this figure, US$5.98 billion worth of apparel was shipped abroad, rising by 12.49% year on year.
Exports to the key markets like the US, the EU, the Republic of Korea, China, ASEAN, and members of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) enjoyed strong growth.
In 2017, the industry gained a year-on-year increase of 10.23% in export revenue to US$31 billion, higher than its target set at the beginning of the year at US$30 billion.
